Average House Prices Rise Again in September, Not Every Region Sees Increases

The latest figures for property selling prices in England and Wales, released by Land Registry today, show:

• Average house prices in England and Wales rose 0.9% in September to £158,377.
• The annual rate of house price inflation dropped to 5.6% in September, well off the annual drop of 16.3% set in February. However, average prices are still down 14.1% from the January 2008 peak.
• London experienced the greatest monthly price rise with the average property price in the capital increasing to £314,954, a rise of 1.3%.
• Wales registered the largest monthly decline, as average selling prices fell 2.6% to £119,717.
• All regions experienced a decline in average property prices over the last 12 months with the North East recording the most significant annual price, down 8.2%.
• Neath Port Talbot experienced the greatest annual price fall, dropping 18.7% year-over-year.
• The volume of transactions increased again in July 2009, the most recent month for data. The number of completed house sales in England and Wales rose by 9% to 57,579 from 52,628 in July 2008. Monthly sales in England and Wales have risen steadily each month since January 2009 when they stood at 26,662.

Data: Land Registry

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