There has been no change in the value of residential property in the UK between May and June of this year, the latest data from the Land Registry shows. However, prices have fallen by 2.5 per cent when compared to the same time in 2010. Currently, the average value of a home in England and Wales stands at 161,479 GBP.
However, the Land Registry noted that London has seen some upward movement in its residential real estate prices, rising by 0.8 per cent year-on-year. In terms of the region to experience the biggest drop, it is the north-east, where prices declined by 7.1 per cent annually and 2.1 per cent between May and June this year.
By contrast, the Assetz House Price Watch, which was released earlier this week, stated that house prices around the UK have consistently increased since the beginning of 2011. The survey, which collates data from five national property indices, saw values rise by 0.3 per cent in June compared to the previous month, adding that they are down by just 1.2 per cent over the same month in 2010.
- Monday 01 August 2011