The latest Land Registry House Price Index for July 2007 reports that price growth has been slower in England and Wales, with average price increases of 0.1% to £181,460.
House prices in England and Wales exhibit slow monthly growth for residential property transactions that completed in July 2007. Whilst still positive, the 0.1% rate of monthly increase is the lowest rate experienced since June 2006. The change raises this month's average house price to £181,460. The annual change in house prices is 8.8%. The growth rate divergence between London and the rest of the country persists. London and to a lesser extent, the South East, continues to ensure positive house price inflation.
Residential property transactions for London that completed in July 2007 indicate continued monthly growth. With an annual price change of 15.5%, London still leads the rest of the country in terms of house price growth. The July data shows that for the fourth month in a row the rate of increase for London house prices remains approximately 6% per annum greater than that of England and Wales as a whole. London's average house price for July 2007 stands at £342,936 whereas the average price for England and Wales is £181,460.
All regions in England and Wales experienced increases in their average price over the last twelve months. The region with the highest annual price change is London with an increase of 15.5%. The region with the lowest annual price rise is the West Midlands, with an increase of 4.5%. The South East experienced the highest monthly rise, with an increase of 1.1%. The West Midlands experienced the largest negative price movement this month with a change of -1.4%.
