House prices fall 1% in June

Average house prices in England and Wales fell one per cent in June, taking the average price to £180,781, according to the latest figures from Land Registry.

Annual house price growth shows a decline for the tenth consecutive month, with an increase of 0.1 per cent.

The most up-to-date figures available show that during April 2008 the number of completed house sales fell by 39 per cent to 57,831 from 95,223 in April 2007.

House prices in London fell by 2.5 per cent in June – more than any other region in England and Wales, taking the average London house price to £345,136. The North East bucked the downward trend being the only region to experience growth, with a monthly increase of 4.1 per cent.