UK house prices fall fastest in two years
London, July 28, 2011
House prices in England and Wales were flat on the month in June and fell 2.5 per cent compared with a year ago, the biggest annual fall since October 2009, government data showed on Thursday.
The Land Registry said house prices stood at an average GBP161,479 ($263,850).
It said house prices in London rose 0.8 per cent on the year -- the only region to record annual house price growth. House prices in north east England suffered the biggest declines, down 2.1 percent on the month, and 7.1 per cent on the year.
The Land Registry also said that the number of property transactions had decreased since last year, with average monthly sales falling to 42,733 between January and April from 45,509 in the same period a year ago. – Reuters