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England and Wales see house prices drop in October
29/11/10
Edited by Andy Jowett.Residential property prices in England and Wales fell by 0.8 per cent between September and October, according to the latest figures from the Land Registry.
The agency said the typical home cost £165,505 at the end of last month.
On an annual basis, property values were up by 3.4 per cent overall and eight regions experienced a year-on-year increase in the cost of housing.
London saw the biggest rise at 7.6 per cent.
Meanwhile, the north-east recorded the sharpest annual decline in prices at 0.9 per cent.
Based on figures for August, the Land Registry put the number of completed housing transactions for England and Wales at 58,783, up one per cent on a year earlier.
It added that deals involving properties valued at more than £1 million increased by 44 per cent on an annual basis from 506 sales to 731.
The figures come after Nationwide said the average house price for the UK as a whole had dropped by 0.7 per cent between September and October to stand at £164,381.
