House prices rise in October, says Land Registry

The October data from Land Registry’s House Price Index shows a positive monthly house price change of 0.6%.

The average house price in England and Wales is now £159,546.

This is the fifth month in a row in which the movement has been above 0%.

The annual change stands at minus 3.4%. This is the sixth month in a row in which the fall in annual change has decreased.

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 West Midlands with a movement of minus 6.3%. The North West experienced the greatest monthly rise with a movement of 1.9%. Wales was the region with the most significant monthly price fall with a movement of minus 2.3%.

The most up-to-date figures available show that during August 2009 the number of completed house sales in England and Wales rose by 11% to 53,236 from 48,109 in August 2008.

Oliver Gilmartin, RICS senior economist, said: “House prices continued to move higher by 0.6% at a national level consistent with all the major indices with the level of transactions continuing to improve. However