April annual house price fall remains static

According to the latest figures from Land Registry, annual house prices in England and Wales fell by 16.2 per cent in April, taking the average house price to £152,898. This mirrors the annual house price fall in March.

Monthly house prices fell by 0.3 per cent in April compared to a fall in March of 0.4 per cent.

London had a positive monthly change of 1.4 per cent, making it the region with the greatest monthly change. The average property value in the capital is £302,411.

The South West region experienced the most significant annual price fall with a movement of -18 per cent. The North East showed the most significant monthly price fall with a movement of -2.6 per cent.

Middlesbrough had the most significant monthly house price fall during April with a movement of - 4.4 per cent. Only York experienced no monthly price movement.

The most up-to-date figures available show that during February 2009 the number of completed house sales fell by 50 per cent to 25,592 from 51,121 in February 2008. In London 2,933 house sales were completed in February 2009 compared with 7,152 in February 2008. This represents a fall of 59 per cent.

For more information, visit landregistry.gov.uk