The June data from Land Registry’s House Price Index shows an annual price increase of 0.8% which takes the average property value in England and Wales to £162,621.
The monthly change from May to June shows an increase of 0.6 per cent. Repossession volumes decreased by 26 per cent in April 2013 to 1,185 compared with 1,599 in April 2012.
The region in England and Wales which experienced the greatest increase in its average property value over the last 12 months is London with a movement of 6.9 per cent – London also experienced the greatest monthly rise with a movement of 3.1 per cent.
The region with the greatest annual price fall is the North East with a decrease of 3.8 per cent, which also saw the most significant monthly price fall with a decrease of 2.2 per cent.
The most up-to-date figures available show that during April 2013, the number of completed house sales in England and Wales increased by 12 per cent to 48,367 compared with 43,252 in April 2012.
Post courtesy of Financial Reporter