August 28, 2011 | Author

Author Alec Hanson

Land Registry sees a change in the downward trend.

The land Registry House Price Index for July shows a potential changes in the downward trend that has been the usual of late.

Although the overall yearly changes still remains negative at -2.1%, the monthly changes from June to July is up fairly strongly at 1.3%, leaving the average house prices in England and Wales at £163,049.

In fact the increase is the largest monthly movement seen by the Land Registry since January 2010.

Transactions decline

Interestingly even though the average price has increased strongly last month with the negative annual change also comes a fall in the number of transactions.

In the months February to May there were only 45,489 transactions compare to 49,600 last year.

Regional difference not as marked

London and the regions have varied quite a bit over the last few months across all HPIs in the industry, with London bucking the trend.

Although the different over the year in the change in London and the regions is one of positive figures for London and negatives for the regions, both are actually following exactly the same patter.

Indeed the July data shows an increase in London similar to that experienced in England and Wales.