House prices rise 0.1% in June

The latest figures from Land Registry show a modest improvement in the monthly change in house prices in England and Wales. The June increase of 0.1 per cent is the first time monthly change has been positive since January 2008.

The annual drop of 14 per cent took the average house price to £153,046.

London experienced the greatest monthly rise with a movement of 2 per cent, making it the region with the greatest monthly change and an average property value of £301,859.

All regions in England and Wales 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 -15.9 per cent. Luton experienced the greatest annual price fall with a drop of 23 per cent.

The most up-to-date figures available show that during April 2009 the number of completed house sales fell by 42 per cent to 36,233 from 62,393 in April 2008.