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 0.8%. Wales experienced the greatest monthly rise with a movement of 2.8%. The North East experienced both the greatest annual price fall with a decrease of -7.1% and the most significant monthly price fall with a movement of -2.1%.
The most up-to-date figures available show that during April 2011, the number of completed house sales in England and Wales decreased by 7% to 48,704 from 52,272 in April 2010. The number of properties sold in England and Wales for over £1 million increased by 45% between April 2010 and April 2011, from 549 to 798.
As Capital Economics said: “Despite holding firm in June, the underlying trend in national average house prices remains negative. Moreover, June also brought tentative evidence that even in London, prices are now softening.”
