In January 2013 it saw a small monthly and annual increase – both sets of figures up by 1.0%. This puts the average house price in Engalnd and Wales at £162,441.

The Land Registry House Price Index (HPI) is seen as the most accurate independent index by using data from completed sales.

In January 2013 it saw a small monthly and annual increase – both sets of figures up by 1.0%.

This puts the average house price in England and Wales at £162,441.

Property transactions however saw a slight fall over the year, with average sales per month in the period of August to November 2012 at 58,947, compared against 61,595 during the same period in 2011.

Regional figures

London continued to demonstrate higher increases that England and Wales as a whole, with a 2.5% monthly price change and a massive 7.1% annual change – considerably higher than other regions.

This places the average house price in the capital at £373,207.

The North West saw the largest fall in house prices over the month, down 1.9% to an average of £106,527.

The North West was also the region with the largest fall in prices over the whole year, down -4.2%.

Property Type

Flat/maisonettes had the largest difference in the year between January 2012 and 2013 with a 1.9% increase to an average price of £151,048.

Semi-detached had the smallest annual increase of 0.6% up to an average price of £153,931