May annual house price decline gradually easing

All regions in England and Wales experienced a decrease in their average property values over the last 12 months.

The region with the most significant annual price fall was the North East with a movement of -17.2%.

Manchester metropolitan district experienced the greatest annual price fall with a movement of -23.8%.

The most up-to-date figures available show that during March 2009 the number of completed house sales fell by 43% to 33,161 from 57,929 in March 2008.

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