The January data from Land Registry’s House Price Index shows an annual price change of 5.2%. This is the second month in a row in which the figure has been positive and takes the average property value in England and Wales to £165,088. The monthly change from December to January is a rise of 2.1%.
Seven 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 10.5%. The region with the most significant annual price fall was the North East with a movement of -3.4%.
London experienced the greatest monthly rise with a movement of 3.9%. The North East was the region with the most significant monthly price fall with a movement of -1.3%.
The most up-to-date figures available show that during November 2009, the number of completed house sales in England and Wales rose by 54% to 55,715 from 36,091 in November 2008.
Earlier today the Nationwide reported that house prices fell in February.