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Annual house prices in England and Wales fell by 4.6 per cent in August to prices last seen in spring 2007, according to the latest figures from Land Registry. The average house price is £174,493 which is also a decrease month-on-month of 1.9%.London also experienced a decrease in its average property value over the last 12 months, with a movement of -3.2%, taking the average London house price to £336,620.
Hartlepool experienced the highest annual change with an increase of 4.8 per cent, taking its average property price to £117,350.
The most up-to-date figures available show that during June 2008 the number of completed house sales fell by 56 per cent to 54,072 from 123,293 in June 2007.
Region | Monthly change (%) | Annual change (%) | Average price (£) |
North West | 1.2 | -2.5 | 133,343 |
Wales | 0.8 | -2.6 | 135,616 |
West Midlands | -0.1 | -4.3 | 146,551 |
North East | -1.3 | -3.5 | 125,259 |
East Midlands | -1.6 | -5.9 | 136,729 |
England and Wales | -1.9 | -4.6 | 174,493 |
Yorkshire & The Humber | -1.9 | -4.3 | 138,220 |
London | -2.4 | -3.2 | 336,620 |
South East | -2.5 | -4.8 | 216,701 |
South West | -2.7 | -6.5 | 182,522 |
East | -3.9 | -6.7 | 179,677 |
Top 10 areas | Average price (£) | Monthly change (%) | Annual change (%) |
Windsor and Maidenhead | 341,191 | -0.3 | 2.4 |
Greater London | 336,620 | -2.4 | -3.2 |
Surrey | 309,886 | -0.5 | 0.7 |
Wokingham | 286,311 | -0.3 | -1.0 |
Buckinghamshire | 268,402 | -1.5 | -0.8 |
Hertfordshire | 249,675 | -0.9 | 0.1 |
Oxfordshire | 244,090 | -0.3 | -1.5 |
West Berkshire | 233,232 | -1.0 | -2.1 |
Dorset | 232,967 | -1.2 | -1.6 |
Rutland | 230, 382 | -3.7 | -3.1 |
Average prices by property type ( England and Wales ) | August 2008 | August 2007 | Difference (%) |
Detached | £264,707 | £277,348 | -4.6 |
Semi-detached | £163,973 | £172,126 | -4.7 |
Terraced | £136,706 | £142,919 | -4.3 |
Flat/maisonette | £162,616 | £172,036 | -5.5 |
All | £174,493 | £182,813 | -4.6 |
Month | Sales 2008 (England and Wales) | Sales 2007 (England and Wales) | Difference (%) |
January | 57,275 | 87,605 | -35 |
February | 60,722 | 86,764 | -30 |
March | 56,538 | 106,108 | -47 |
April | 60,190 | 95,239 | -37 |
May | 61,038 | 107,986 | -43 |
June | 54,072 | 123,293 | -56 |
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