House prices in England and Wales remained static during February, with no monthly price change, according to the latest figures from Land Registry. The average house price stands at £185,616.
London prices fell by 0.4%, with the average price for a house in the capital dropping to £353,760. However, the annual growth in London remains higher than any other region at 10.6%.
The West Midlands experienced the highest monthly rise with an increase of 1.3%, and Wales had the most significant monthly fall with a drop of 1.1%.
The number of transactions during the period September to December 2007 averaged 90,880 per month, down from 117,301 for the same period last year.
The number of properties sold in England and Wales for over £1 million decreased by 30% between December 2006 and December 2007, from 542 to 381. In London the number decreased by 34% from 327 to 215, during the same period.
