The August data from Land Registry shows a fairly flat market with a monthly house price change of -0.1 per cent. This drop breaks the 3 month streak of rising house prices seen throughout the summer.
The annual drop of 9.4 per cent (compared with 16.3% in February) takes the average house price in England and Wales to £155,968.
All regions have experienced a decrease in their average property values over the last 12 months but London and the West Midlands experienced the greatest monthly price rise for August with a movement of +0.8 per cent, binging the average property price in the capital to £310,640.
Although the most up-to-date figures available show that during June 2009 the number of completed house sales in England and Wales fell by 17 per cent, from 58,636 to 48,903, monthly sales for England and Walse tell a different story having risen steadily during the first half of the year from a starting point of just 26,517 in January.
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