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HOUSE PRICES SEE FIRST POSITIVE CHANGE SINCE MAY 2008 (Buying)
by administrator 
, Tuesday, February 02, 2010, 04:06
The December data from Land Registry's flagship House Price Index shows an annual price change of 2.5% - the first positive annual house price change since May 2008.
The monthly change is 0.1%, 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%.
The region with the most significant annual price fall was Wales with a movement of -2.5%. Both the North East and the West Midlands experienced the greatest monthly rises with movements of 1.9%. Wales was the region with the most significant monthly price fall with a movement of - two 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% to 59,482 from 44,530 in October 2008. Transaction volumes, while no longer falling at 2007 rates, remain relatively low.
