The December data from Land Registry’s flagship House Price Index shows an annual price change of 2.5 per cent. This is the first positive annual house price change since May 2008.
The monthly change is 0.1 per cent, which is the eighth month in a row in which the monthly change has been above zero. This brings the average property value in England and Wales to £161,783.
Seven regions in England and Wales experienced increases in their average property values over the last12 months. The region with the highest annual price change is London with an increase of 6.1 per cent. The region with the most significant annual price fall was Wales with a movement of -2.5 per cent. Both the North East and the West Midlands experienced the greatest monthly rises with movements of 1.9 per cent. Wales was the region with the most significant monthly price fall with a movement of -2 per cent.
The most up-to-date figures available show that during October 2009 the number of completed house sales in England and Wales rose by 34 per cent to 59,482 from 44,530 in October 2008.
Transaction volumes, while no longer falling at 2007 rates, remain relatively low.
For more information and to view the report in full, visit www1.landregistry.gov.uk/houseprices/
Press notice reference 03/10
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