August house prices down 2.6 per cent

The only region in England and Wales to experience an increase in its average property value over the last 12 months is London with a movement of 2.1%.

The East experienced the greatest monthly rise with a movement of 0.8%.

The North East experienced the greatest annual price fall with a decrease of -7.8%.

Wales experienced the most significant monthly price fall with a movement of -1.7%.

The most up-to-date figures available show that during June 2011, the number of completed house sales in England and Wales decreased by -13% to 54,776 from 62,714 in June 2010.

The number of properties sold in England and Wales for over £1million decreased by 28% between June 2010 and June 2011, from 644 to 465.

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