House Prices Continue To Decline

The latest land Registry House price Index shows that the annual house price appreciation rate has continued to decline across England and Wales, from 6.7 per cent last month to 6.4 per cent this month. However, the monthly change in January was a positive 0.9 per cent, due to the seasonal adjustments, and the average property price now stands at £186.045.

London’s house prices have also been affected by the reduced annual appreciation rates, with a drop from 14.3 per cent last month to 13.1 per cent this month. However, it remains the region with the greatest annual price rise, and is approximately double the rate of increase in England and Wales as a whole.  The average property value in London is currently £357.976, in comparison to England and Wales, which is £186.045.

April 2008