Press Office
PRICE FALLS PROVIDE EVIDENCE OF DOWNWARD TREND IN HOUSING MARKET
House prices in England and Wales dropped by 0.4 per cent in December, taking the average price to £184,469, according to the latest figures from Land Registry.
It is the first fall for England and Wales since August 2005, although three regions bucked the downward trend. The largest monthly growth was seen in the North East, at 2.2 per cent.
The volume of transactions was also down on the same period last year, with an average of 103,374 per month in the months July to October 2007, compared with 117,086 per month from July to October 2006.
For more information and to view the latest statistical release visit www.landregistry.gov.uk/houseprices/
Region | Monthly change (%) | Annual change (%) | Average price (£) |
North East | 2.2 | 6.6 | 132,840 |
East | 1.1 | 8.9 | 197,143 |
London | 0.6 | 14.3 | 354,625 |
Yorkshire & The Humber | -0.3 | 4.8 | 145,188 |
West Midlands | -0.3 | 4.8 | 154,470 |
North West | -0.9 | 4.9 | 136,678 |
South West | -1.0 | 6.0 | 196,062 |
South East | -1.3 | 7.2 | 228,169 |
Wales | -2.1 | 2.0 | 138,961 |
East Midlands | -3.3 | 0.5 | 142,055 |
Average prices by property type ( England and Wales ) | December 2007 | December 2006 | Difference (%) |
Detached | £275,457 | £263,758 | 4.4 |
Semi-detached | £172,606 | £163,079 | 5.8 |
Terraced | £145,772 | £135,042 | 7.9 |
Flat/maisonette | £173,624 | £161,245 | 7.7 |
All | £184,469 | £172,907 | 6.7 |
ENDS
- Land Registry's House Price Index is published on the twentieth working day of each month. The January index will be published at www.landregistry.gov.uk/houseprices at 11:00 hours on 28 February 2008.
- With the world's largest property database, Land Registry underpins the economy by safeguarding ownership of many billions of pounds worth of property. Around £1million worth of property is processed every minute in England and Wales.
- As a government department established in 1862, executive agency and trading fund responsible to the Secretary of State for Justice and Lord Chancellor, Land Registry keeps and maintains the Land Register for England and Wales . The Land Register has been an open document since 1990.
Contacts
Heather Edwards 020 7166 4487
heather.edwards@landregistry.gsi.gov.uk
Marion Shelley 020 7166 4543
marion.shelley@landregistry.gsi.gov.uk
Press Office 020 7166 4215
