Latest figures released by the Land Registry show that the house price change in England and Wales still remained positive for residential property transactions that completed in June 2007.
The 0.4% rate of monthly increase is slightly less than the previous month. The change raises this month's average house price to £181,039. The annual change in house prices is 9.1%. There is evidence of increased growth rate divergence between London and the rest of the country, however across England and Wales as a whole, growth remains positive.
The June data shows that for the third month in a row the annual rate of increase for London house prices remains over 6% greater than that of England and Wales as a whole. This divergence is the largest variation since early 2005, when London lagged behind the rest of the country by approximately 6%. The divide in annual growth between London and England and Wales has averaged 4.9% over the last six months. London's average house price for June 2007 stands at £338,950 whereas the average price for England and Wales is £181,039
Brighton and Hove experienced the highest annual price change with an increase of 16.3%. Twenty-four other counties and unitary authorities also exhibited annual price increases of 10% or more. No county or unitary authority experienced negative annual price change this month.
