Based on all residential sales completed in August, the latest release shows a small dip in house prices of -0.1%. The annual rate of change has fallen to -9.4%, down from the February peak of 16.3%, setting the average house price in England and Wales at £155,968. House prices in London and the West Midlands experienced the biggest rise (still only 0.8%), which pushed the average property price in the capital to £310,640. Unsurprisingly all 10 of the regions measured continue to show a net fall in average values over the last 12 months, with prices in the North West being the hardest hit. Equally, the 4 property groups measured, from detached to flat/maisonette, all show losses over 12 months, with terraced properties faring the worst having fallen by over 11%.
Land Registry data shows little change in house prices.