November house prices up 0.9 per cent

The November data from Land Registry's flagship House Price Index shows a positive monthly house price change of 0.9 per cent, which is the sixth month in a row in which the movement has been above nought per cent.

The annual house price change stands at -0.3 per cent. This is the seventh month in a row in which the annual rate of decline has decreased. The average house price in England and Wales is now £161,554.

Four regions in England and Wales experienced increases in their average property values over the last 12 months. The region with the most significant annual price fall was Yorkshire & The Humber with a movement of -4.7 per cent. Wales experienced the greatest monthly rise with a movement of 2.9 per cent. The West Midlands was the region with the most significant monthly price fall with a movement of -0.4 per cent.

The most up-to-date figures available show that during September 2009 the number of completed house sales in England and Wales rose by 30 per cent to 53,482 from 41,302 in September 2008. Transaction volumes, while no longer falling at 2007 rates, remain relatively low.