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%

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