30 May

Land Registry figures show house price drop

Land Registry figures show house price drop

House prices fell again in April, according to new figures from the Land Registry.

In a survey covering all completed property sales, the organisation recorded a 0.2 per cent drop in prices from March 2008, with bigger falls noted in the West Midlands and Wales.

The average property price in England and Wales now stands at £183,626, down from £184,798 the previous month, the data indicates.

And the annual rate of house price inflation also tumbled for the eighth month in a row from 3.6 per cent to 2.7 per cent.

In a statement published with the statistics, the Land Registry commented: "This latest movement continues to point towards a weakening housing market."

Despite the figures, the National Association of Estate Agents (NAEA) earlier this week said agents sold an average of seven homes in April - consistent with results from March.
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