England & Wales house prices down

Land Registry report a fall in Monthly HPI

The Land Registrys March 2014 HPI has reported a very small fall in average house prices over the month, although prices are firmly in the positive zone for the Annual change.

Key facts:

  • Average house prices have fallen by -0.4% over the month in March, but risen by 5.6% over the year
  • Average house price in England and Wales is now £169,124
  • Increase in number of property transactions from 55,824 in the four months to January 2013 to 74.941 in the four months to January 2014.

London continues to report positive figures with a monthly increase of 0.6% and a substantial 12.4% annual increase – much higher than any other region.

The average house price in London is now £414,490 as opposed to a much lower £169,124 in average across England and Wales.

Elsewhere the picture was a little more mixed with some further fall in prices. Wales was hardest hit with a -4.2% fall, followed by the North West (-1.8%), East Midlands (-1%), Yorkshire (-0.9%) and the South East (-0.7%).

At the top of the table was the East with 1.1% and North East with 1.1%. For this month at least london was more in the middle of the table at number 4.