The monthly change from July to August is a decrease of -0.3% and signals a return to the negative rates seen in May and June.
This takes the average property value in England and Wales to £162,347.
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 2.1%.
The East experienced the greatest monthly rise with a movement of 0.8%. The North East experienced the greatest annual price fall with a decrease of -7.8%. Wales experienced the most significant monthly price fall with a movement of -1.7%.
The most up-to-date figures available show that during June 2011, the number of completed house sales in England and Wales decreased by -13% to 54,776 from 62,714 in June 2010. The number of properties sold in England and Wales for over £1 million decreased by 28% between June 2010 and June 2011, from 644 to 465.
