House prices fell in August
The August data from Land Registry's House Price Index again showed an annual price fall in the North West of 5.4% with a decrease of 1.1% in the past month.
The average house price in the North West in August 2011 plummeted to £112,803, compared to an average of £162,000 across England and Wales.
The only region in England and Wales to experience an increase in its average property value over the last 12 months is London with a movement of 2.1%. The East experienced the greatest monthly rise with a movement of 0.8%. The North East experienced the greatest annual price fall with a decrease of -7.8%. Wales experienced the most significant monthly price fall with a movement of -1.7%.
The national 2.6% decline takes the average property value in England and Wales to £162,347. The Land Registry said monthly change from July to August is a decrease of -0.3% and signals a return to the negative rates seen in May and June.
The most up-to-date figures available show that during June 2011, the number of completed house sales in England and Wales decreased by -13% to 54,776 from 62,714 in June 2010. The number of properties sold in England and Wales for over £1m decreased by 28% between June 2010 and June 2011, from 644 to 465.
|
Region |
Monthly change (since July 2011) |
Annual change (since August 2010) |
Average price (August 2011) |
|
East |
0.8% |
-1.1% |
£175,079 |
|
East Midlands |
0.7% |
-3.7% |
£124,646 |
|
London |
0.5% |
2.1% |
£348,686 |
|
England & Wales |
-0.3% |
-2.6% |
£162,347 |
|
Yorkshire & The Humber |
-0.3% |
-4.6% |
£121,200 |
|
North East |
-0.6% |
-7.8% |
£101,759 |
|
South East |
-0.7% |
-2.3% |
£207,189 |
|
West Midlands |
-0.9% |
-4.1% |
£130,756 |
|
North West |
-1.1% |
-5.4% |
£112,803 |
|
South West |
-1.1% |
-2.6% |
£173,137 |
|
Wales |
-1.7% |
-5.5% |
£117,534 |
|
Average prices by property type (England and Wales) |
August 2011 |
August 2010 |
Difference |
|
Detached |
£255,205 |
£262,240 |
-2.7% |
|
Semi-detached |
£153,004 |
£157,438 |
-2.8% |
|
Terraced |
£124,060 |
£127,533 |
-2.7% |
|
Flat/maisonette |
£151,441 |
£155,219 |
-2.4% |
|
All |
£162,347 |
£166,694 |
-2.6% |
|
Month |
Sales 2010 (England and Wales) |
Sales 2009 (England and Wales) |
Difference |
|
January |
35,847 |
26,286 |
36% |
|
February |
42,535 |
27,292 |
56% |
|
March |
51,418 |
35,550 |
45% |
|
April |
52,288 |
39,362 |
33% |
|
May |
52,180 |
45,882 |
14% |
|
June |
62,714 |
54,806 |
14% |
|
July |
67,466 |
63,689 |
6% |
|
August |
61,438 |
58,368 |
5% |
|
September |
57,425 |
58,539 |
-2% |
|
October |
58,557 |
65,826 |
-11% |
|
November |
56,220 |
61,153 |
-8% |
|
December |
56,718 |
78,543 |
-28% |
|
Total |
654,806 |
615,296 |
6% |
|
Month |
Sales 2011 (England and Wales) |
Sales 2010 (England and Wales) |
Difference |
|
January |
37,445 |
35,847 |
4% |
|
February |
39,457 |
42,535 |
-7% |
|
March |
46,359 |
51,418 |
-10% |
|
April |
50,108 |
52,288 |
-4% |
|
May |
47,896 |
52,180 |
-8% |
|
June |
54,776 |
62,714 |
-13% |
