May house prices up 0.1 per cent since April

The May data from Land Registry’s House Price Index shows an annual price increase of 0.5 per cent which takes the average property value in England and Wales to £161,969.

The monthly change from April to May shows an increase of 0.1 per cent. Repossession volumes decreased by 27 per cent in March 2013 to 1,448 compared with 1,981 in March 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 5 per cent.

• The East Midlands experienced the greatest monthly rise with a movement of 2 per cent.

• The region with the greatest annual price fall is Yorkshire & The Humber with a decrease of 2.2 per cent.

• The East saw the most significant monthly price fall with a decrease of 0.7 per cent.

• The most up-to-date figures available show that during March 2013, the number of completed house sales in England and Wales decreased by 15 per cent to 52,090 compared with 61,334 in March 2012.

• The number of properties sold in England and Wales for over £1 million in March 2013 increased by 21 per cent to 625 from 517 in March 2012.

• All regions saw repossessions decrease between March 2012 and March 2013. The region with the greatest fall in the number of repossessions was the North East where repossessions dropped by 39 per cent (March 2013 compared with March 2012).

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