Small increase in house prices – Land Registry

April data from Land Registry’s House Price Index shows an annual price increase of 0.7% which takes the average property value in England and Wales to £161,458.

The monthly change from March to April shows an increase of 0.4%.

Repossession volumes decreased by 28% in February 2013 to 1293 compared with 1788 in February 2012.

The region in England and Wales which experienced the greatest increase in its average property value over the last 12 months is London with a movement of 6.2%.

London also experienced the greatest monthly rise with a movement of 1.4%.

The region with the greatest annual price fall is the North East with a decrease of 5.7%.

The North East also saw the most significant monthly price fall with a decrease of 1.6%.

The most up-to-date figures available show that during February 2013, the number of completed house sales in England and Wales decreased by 3% to 43,573 compared with 44,829 in February 2012.

The number of properties sold in England and Wales for more than £1million in February 2013 increased by 3% to 488 from 475 in February 2012.

All regions saw repossessions decrease between February 2012 and February 2013. The region with the greatest fall in the number of repossessions was the West Midlands. (February 2013 compared with February 2012).

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