Annual house price inflation down to 2.7%

| June 2, 2008 | 0 Comments
Annual house price inflation down to 2.7%

The Land Registry may not provide the most recent data on the housing market but the figures it publishes are the most accurate because they are based on completed sales.

In April, the annual rate of house price growth fell for the eighth successive month, to 2.7%.

The average price of a home in England and Wales fell by 0.2%, to £183,626.

The greatest monthly decline in prices occurred in the West Midlands (1.2%, or 0.1% below April 2007 prices).

In the East Midlands and Wales, prices were also below levels recorded twelve months ago, down 0.9% and 1.4% respectively. London saw annual house price inflation fall to 6.8% in April.

Prices across the south-east rose 0.5% taking the average cost of a property in the region to £229,289 in April.

The north-west, south-west and east also saw prices rise slightly in April.

In the three months to February, the number of housing transactions fell almost 30%, to an average of 72,479 a month.

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