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HOUSE PRICES FALL 11 PER CENT YEAR-ON-YEAR

HOUSE PRICES FALL 11 PER CENT YEAR-ON-YEAR (News (General))

by administrator @, Monday, October 31, 2011, 17:28

The number of completed house sales in England and Wales decreased by 11 per cent in July compared to the same time last year, new data has revealed.

Figures released by the Land Registry show there were 59,919 house sales last July, down from 67,475 in the same month last year.

The number of properties sold in England and Wales for over £1 million in July 2011 decreased by 24 per cent to 707 from 932 in July 2010.

The September data from Land Registry's House Price Index also shows an annual price decrease of 2.6 per cent, which takes the average property value in England and Wales to £162,109.

The monthly change from August to September is a decrease of 0.3 per cent. It continues the negative monthly price change seen in August of -0.1 per cent.

The only region in England and Wales to experience an increase in its average property value over the last 12 months is London with a movement of 2.7 per cent.

The new figures showed significant regional divides. The North West experienced the greatest monthly rise with a movement of 1.0 per cent.

The North East experienced the greatest annual price fall with a decrease of 8.2 per cent and the most significant monthly price fall with a movement of -3.9 per cent.


www.landregistry.gov.uk

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