House Prices Slowly Begin To Rise

The September data from Land Registry's House Price Index shows a rising market with a monthly house price change of 0.9% up from half a per cent in August.

The annual drop of 5.6%, up from a low of minus 16.3%in February, takes the average house price in England and Wales to £158,377.

London experienced the greatest monthly price rise with a movement of 1.3%. The average property price in the capital is now £314,954.


All regions experienced a decrease in their average property values over the last 12 months. The region with the most significant annual price fall was the North East with a movement of -8.2%.

Neath Port Talbot experienced the greatest annual price fall with a drop of 18.7%.

The most up-to-date figures available show that during July 2009 the number of completed house sales in England and Wales rose by 9% to 57,579 from 52,628 in July 2008. Monthly sales in England and Wales have risen steadily each month since January 2009 when they stood at 26,662.

(CD/GK)