The Land Registry’s House Price Index for February has recorded an annual price increase of 7%. The monthly change from January to February is a decrease of 0.3%.
This is the fourth month in a row in which the figure has been positive and takes the average property value in England and Wales to £164,455.
Nine regions in England and Wales experienced increases in their average property values over the last 12 months. The region with the highest annual price change is London with an increase of 11.9%. The region with the most significant annual price fall was the North East with a movement of -2.3%.
The North West experienced the greatest monthly rise with a movement of 3.6%. Wales was the region with the most significant monthly price fall with a movement of -2.4%.
The most up-to-date figures available show that during December 2009, the number of completed house sales in England and Wales rose by 89% to 73,889 from 39,138 in December 2008.
Jonathan Moore, director of easyroommate.co.uk, said: “The recovery in the housing market didn’t just splutter