UK Money News
30th May 2008
Land Registry: House prices down 0.2% in April
New government figures suggest that the decline in the property sector is continuing to set in.
According to the latest survey from the Land Registry, which is regarded as the most accurate of all price indices, the value of a UK home fell by 0.2 per cent during April.
The decline brought the average rate of annual house price inflation down from 3.6 in per cent in March to 2.7 per cent.
The average house price in England and Wales now stands at £183,626, which is a £1,172 decrease from last month's figure of £184,798.
A statement from the Land Registry said: "This latest movement continues to point towards a weakening housing market and represents the eighth consecutive decrease in annual house price growth."
Property price declines in London were among the most marked with annual average house price growth falling to 6.8 per cent in April, down from 10.5 per cent for the previous month
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