The average price of a house in England and Wales rose 1.3% in July compared to the month before, figures from the Land Registry showed today, but still remains 2.1% down on house prices a year ago.
The average house price at the end of July was £163,049 compared to £166,607 a year earlier.
Unsurprisingly, the only region in England and Wales to achieve house price growth over the past year was London, with an increase in the average house price of 1.3%.
Month-on-month the strongest growth was recorded in the south west with movement of 2.2%.
The north east suffered the most significant declines both on a monthly and a yearly basis, at 2.3% and 8.8% respectively.
The most up-to-date figures available showing the number of completed house price sales declined from 52,170 in May 2010 to 46,870 in May 2011.
The number of properties sold for over £1m declined by 44% from 464 in May 2010 to 262 in May 2011.
Have you booked your delegate place for RESI 2011 yet? Taking place at the Celtic Manor, Newport, 15-16 September 2011, RESI 2011 is the event to attend for the residential market. Can you afford not to be there? Visit www.resievent.com for more information and to book your place.
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