Mortgage News
House prices fall by 0.3% in February: Land Registry
House prices fell by 0.3% in February compared with the previous month, taking the average property value in England and Wales to £164,455.
The February index from the Land Registry shows an annual price rise of 7%, the fourth consecutive month in which the annual figure has been positive.
The data continues to highlight significant regional variations in price performance.
Four out of the ten regions in England and Wales- the Northwest, the Yorkshire & Humber, West Midlands and Southwest- experienced increases in their average property values over the last month.
The Northwest was the region with the most significant monthly rise with a movement of -1.3%.
The region with the most significant annual price fall was the Northeast with a movement of -2.3%.
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Nine out of the ten regions in England and Wales experienced increases in their average property values over the last 12 months. London experienced the greatest annual price change with an increase of 11.9%.