May house prices down 0.2 per cent

The May data from Land Registry's House Price Index shows an annual price increase of 8.2 per cent.  This is the seventh month in a row in which the annual figure has been positive and takes the average property value in England and Wales to £165,314.  It is also the first time since March 2009 that the annual change figure has not increased from the month before.

The monthly change from April to May is a decrease of -0.2 per cent. This is the first negative monthly movement since April 2009.

All regions in England and Wales experienced increases in their average property values over the last 12 months. The region with the highest annual price change is London with an increase of 14.2 per cent. The region with the smallest annual price rise is the North East with a movement of 1.8 per cent.

The South East experienced the greatest monthly rise with a movement of 0.9 per cent. The East Midlands region experienced the most significant monthly price fall with a movement of -3.6 per cent.