04/05/2011

House Prices Continue To Fall

The North East of England has experienced the greatest annual price fall in house value as the March data from Land Registry's House Price Index revealed an annual price decrease of 2.3% which takes the average property value in England and Wales to £160,996.

The monthly change from February to March is a decrease of 1.1%.

Only one region in England and Wales experienced an increase in its average property value over the last 12 months. This was London with an annual price change increase of 0.8%.

The region which experienced the greatest monthly rise was the North West with a movement of 0.7%.

However, the North East experienced the greatest annual price fall with a decrease of -9.3%. Wales is the region with the most significant monthly price fall with a movement of -3.3%.

The most up-to-date figures available show that during January 2011, the number of completed house sales in England and Wales rose by 2% to 36,425 from 35,809 in January 2010.

The number of properties sold in England and Wales for over £1 million increased by 6% between January 2010 and January 2011, from 460 to 486.

(CD/GK)

Related UK National News Stories
Click here for the latest headlines.

29 October 2009
House Prices Slowly Begin To Rise
The September data from Land Registry's House Price Index shows a rising market with a monthly house price change of 0.9% up from half a per cent in August. The annual drop of 5.6%, up from a low of minus 16.3% in February, takes the average house price in England and Wales to £158,377.
27 August 2010
England & Wales House Prices Rising
Property values have stabilised and last month even showed a small rise - with London houses topping the poll. The July data from Land Registry's flagship House Price Index shows an annual price increase of 6.7%, which takes the average property value in England and Wales to £166,798. The monthly change from June to July is an increase of 0.4%.
12 October 2010
UK Inflation Remains At Current Rate
According to the Office for National Statistics (ONS), UK Consumer Prices Index (CPI) inflation remained unchanged at 3.1% in September. Including a higher proportion of housing costs, the Retail Prices Index (RPI), fell back slightly to 4.6%.
31 October 2011
House Prices Take September Dip
Data from Land Registry's House Price Index has revealed an annual price decrease of 2.6%. The average property value in England and Wales is now £162,109, representing a monthly change from August to September of 0.3% down. This continues the negative monthly price change seen in August of -0.1%.
20 May 2014
Rise In UK House Prices
Property values have risen by 8% in a year to March, according to the figures of the Office for National Statistics (ONS). The annual increase is slow compared to a 9.