Annual house prices in England and Wales fell by 4.6 per cent in August to prices last seen in spring 2007, according to the latest figures from Land Registry. The average house price is £174,493 which is also a decrease month-on-month of 1.9 per cent.

London also experienced a decrease in its average property value over the last 12 months, with a movement of -3.2 per cent - taking the average London house price to £336,620.

Hartlepool experienced the highest annual change with an increase of 4.8 per cent, taking its average property price to £117,350.

The most up-to-date figures available show that during June 2008 the number of completed house sales fell by 56 per cent to 54,072 from 123,293 in June 2007. For more information and to view the latest statistical release visit www1.landregistry.gov.uk/houseprices/

Region            Monthly change  Annual change  Average price (£)
                  (%)             (%)
North West        1.2             -2.5           £133,343
Wales             0.8             -2.6           £135,616
West Midlands     -0.1            -4.3           £146,551
North East        -1.3            -3.5           £125,259
East Midlands     -1.6            -5.9           £136,729
England and Wales -1.9            -4.6           £174,493
Yorkshire & The   -1.9            -4.3           £138,220
Humber
London            -2.4            -3.2           £336,620
South East        -2.5            -4.8           £216,701
South West        -2.7            -6.5           £182,522
East              -3.9            -6.7           £179,677


Top ten areas   Average price (£)   Monthly change Annual change
                                    (%)            (%)
Windsor and     341,191             -0.3           2.4
Maidenhead
Greater London  336,620             -2.4           -3.2
Surrey          309,886             -0.5            0.7
Wokingham       286,311             -0.3           -1
Buckinghamshire 268,402             -1.5           -0.8
Hertfordshire   249,675             -0.9            0.1
Oxfordshire     244,090             -0.3           -1.5
West Berkshire  233,232             -1             -2.1
Dorset          232,967             -1.2           -1.6
Rutland         230,382             -3.7           -3.1


Average prices by property Aug 2008   Aug 2007       Difference (%)
type (England and Wales)
Detached                   £264,707   £277,348        -4.6
Semi-detached              £163,973   £172,126        -4.7
Terraced                   £136,706   £142,919        -4.3
Flat/maisonette            £162,616   £172,036        -5.5
All                        £174,493   £182,813        -4.6


Month     Sales 2008 (England  Sales 2007 (England   Difference (%)
          and Wales)           and Wales)
January   57,275               87,605                -35
February  60,722               86,764                -30
March     56,538               106,108               -47
April     60,190               95,239                -37
May       61,038               107,986               -43
June      54,072               123,293               -56


ENDS

Notes to editors

1. Land Registry's House Price Index is published on the twentieth working day of each month. The September index will be published at www1.landregistry.gov.uk/houseprices/ at 11:00 hours on 28 October 2008.

2. With the largest transactional database of its kind detailing over 21 million titles, Land Registry underpins the economy by safeguarding ownership of many billions of pounds worth of property.

3. As a government department established in 1862, executive agency and trading fund responsible to the Secretary of State for Justice and Lord Chancellor, Land Registry keeps and maintains the Land Register for England and Wales. The Land Register has been an open document since 1990.

4. For further information about Land Registry visit http://www.landregistry.gov.uk