House prices remain static in February
by Gill Montia
Latest figures from the Land Registry, the most reliable source of UK house price data, show that the price of a home in England and Wales remained static during February.
The average house price stood at £185,616. However, in London prices fell by 0.4%, leaving the average price for a house in the capital at £353,760.
The West Midlands saw the highest rise during the month, with an increase of 1.3% and Wales experienced the most significant monthly fall at 1.1%.
For the period September to December 2007, the number of transactions averaged 90,880 per month, down from 117,301 for the same period last year.
Over the past 12 months, all regions in England and Wales experienced increases in their average price.
London recorded the highest annual price change with an increase of 10.6%. In the North East the annual price rise was at its lowest, at 1.9%.
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