Land registry shows price falls
THE February data from Land Registry shows an annual property price decrease of 1.7 per cent, which takes the average home value in England and Wales to £162,215. The monthly change from January to February is a decrease of 0.8 per cent. Yorkshire saw an annual fall of four per cent and a monthly decrease of two per cent.
The region with the highest annual price change is London, with an increase of 3.2 per cent. The region with the greatest annual fall is the North-East with a decrease of -7.1 per cent. The North-East also experienced the most significant decline of -4 per cent.
The number of properties sold for more than £1m increased by 3 per cent between December 2009 and December 2010.