May house prices up 0.5 per cent since April

The region in England and Wales which experienced the highest increase in its average property value over the last 12 months is London with a movement of 7.7 per cent.

London also experienced the greatest monthly rise with an increase of 2.6 per cent.

Yorkshire & The Humber experienced the greatest annual price fall with a decrease of 3.9 per cent.

North East saw the most significant monthly price fall with a decrease of 1.9 per cent.

The most up-to-date figures available show that during March 2012, the number of completed house sales in England and Wales increased by 25 per cent to 58,609 compared with 46,742 in March 2011.

The number of properties sold in England and Wales for over £1 million in March 2012 decreased by 41 per cent to 501 from 845 in March 2011

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