Monthly house price rise of 1.1%

The January data from Land Registry’s House Price Index shows a monthly change from December of 1.1%.

There was an annual price decrease of 1.0% which takes the average property value in England and Wales to £161,545.

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 2.9%. London also experienced the greatest monthly rise with a movement of 2.5%.

The North East experienced the greatest annual price fall with a decrease of 4.5%. The North West saw the most significant monthly price fall with a decrease of 2.1%.

The most up-to-date figures available show that, during November 2011, the number of completed house sales in England and Wales increased by 3% to 57,967 compared to 56,312 in November 2010. The number of properties sold in England and Wales for over £1 million in November 2011 decreased by 4% to 524 from 548 in November 2010.