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Average house prices in England and Wales have fallen by 0.1% since October, according to the November house price index from the Land Registry. It means that the average house price is now £176,581 compared with the peak of £181,191 in November 2007 with an annual growth of 7.1%. The region in England and Wales which experienced the greatest increase in its average property value over the last 12 months is London with an increase of 17.4%. The data also shows that the West Midlands experienced the greatest monthly rise with a rise of 1.7% while Wales saw the lowest annual price growth at 1.7% while the East of England saw the most significant monthly price fall of 1.4%. The most up to date figures available show that during September 2014 the number of completed house sales in England and Wales increased by 5% to 73,552 compared with 70,020 in September 2013. The number of properties sold in England and Wales for over £1 million in September 2014 increased by 8% to 1,172 from 1,088 in September 2013. The region with the greatest fall in repossession sales in September 2014 was London and there were 674 repossessions in England and Wales during September 2014. Continue reading →
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