House prices fall across England and Wales

Posted 27/06/2011

Now may be an ideal time for Brits to seek the services of a residential conveyancing solicitor and move house, as new Land Registry figures have highlighted a decline in the average price of a home in England and Wales.

The body’s latest House Price Index revealed values fell 0.4 per cent between April and May, putting the mean cost of a property at £161,823.

Falls were especially noticeable in Wales, which experienced a monthly price decrease of 3.5 per cent, while homes in the East Midlands were 0.4 per cent more expensive on average.

On an annual basis, there was a 2.2 per cent slide in mean values across the entire market – however, London abodes rose, adding 2.9 per cent on average.

The decrease has come despite a survey conducted by Halifax earlier this month revealing one in three Brits expect house prices to climb over the course of 2011.

If you need help with residential conveyancing, the team at Ashtons Legal can offer professional advice.