Today, Friday 28th October 2011 has seen the release of the Land Registry House Price Index which has seen Welsh house prices drop a hefty 5.8 per cent from this time last years and a monthly change of down 1.7 per cent resulting in an average house price of £117,813 across Wales. The overall situation across England and wales as a whole is less dramatic with England and Wales combined seeing an annual fall of 2.6 per cent and a monthly fall of 0.3% with today’s average house price being £162,109.
How have Welsh house prices faired compared to the other regions across England? The only region to experience a positive annual price change is London with a movement of 2.7 per cent. The region with the largest annual price fall is the North East with a movement of-8.2 per cent. The North West saw the greatest monthly price rise with a movement of 1.0 per cent. The North East is the region with the most significant monthly price fall with a movement of -3.9 per cent.
Most Welsh regions have seen a fall in house prices with Bridgend seeing the largest annual fall of 9.6 per cent and Cardiff seeing a 2.9 per cent fall from this time last year with the average house price in the Welsh capital being £142,817. The only Welsh region to have bucked the trend is Merthyr Tydfil which saw a 1.9 per cent annual gain with the average house price now £73, 468.
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