30/01/2008

Price Fall Underlines Downward House Price Trend

It's official: House prices in England and Wales dropped by 0.4% in December, taking the average price down to £184,469.

According to the latest figures from Land Registry, this is the first fall for England and Wales since August 2005 - although three regions have actually bucked the downward trend.

The best area, with the largest monthly growth was in the North East - at 2.2%.

However, the overall volume of transactions was also down on the same period last year, with an average of 103,374 per month in the months July to October 2007, compared with 117,086 per month from July to October 2006.

For more information and to view the latest statistical release visit: www.landregistry.gov.uk/houseprices/.

(GK/JM)(BMcC)

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