House prices continue their year on year decline, with a drop of 2.6 per cent in the year to September 2011. Month on month, the average house price for England and Wales was stable.

London was the only region to show a positive change in house prices. Regional changes over the month and year are as follows:

Region                      % change month % change year Average price

The August data from Land Registry's House Price Index shows an annual price decrease of -2.6 per cent which takes the average property value in England and Wales to £162,347. The monthly change from July to August is a decrease of -0.3 per cent and signals a return to the negative rates seen in May and June.

The only region in England and Wales to experience an increase in its average property value over the last 12 months is London with a movement of 2.1 per cent.  The East experienced the greatest monthly rise with a movement of 0.8 per cent. The North East experienced the greatest annual price fall with a decrease of -7.8 per cent. Wales experienced the most significant monthly price fall with a movement of -1.7 per cent.

The most up-to-date figures available show that during June 2011, the number of completed house sales in England and Wales decreased by -13 per cent to 54,776 from 62,714 in June 2010. The number of properties sold in England and Wales for over £1 million decreased by 28 per cent between June 2010 and June 2011, from 644 to 465.

House prices saw no change over the month to June, but were down by 2.5 per cent over the year to an average £161,479.

London was the only region to see an increase in house prices (0.8 per cent). Average house prices across the regions are:

• Wales - £120,480 - month on month: +2.8 per cent; year on year: - 4.4 per cent
• South East - £208,283 - month on month: +1.3 per cent; year on year: -0.7 per cent
• West Midlands -£133,183 - month on month: 1.1 per cent; year on year: -1.3 per cent
• East of England - £172,279 - month on month: +0.3 per cent; year on year: -2.6 per cent
• London - £339,480 - month on month: -0.1 per cent; year on year: +0.8 per cent
• East Midlands - £125,219 - month on month: -0.4 per cent; year on year: -2.9 per cent
• Yorkshire & The Humber - £121,674 - month on month: -0.7 per cent; year on year: -3.5 per cent
• North West - £113,048 - month on month: -1 per cent; year on year: -5.2 per cent
• South West - £171,726 - month on month: -1 per cent; year on year: -2.9 per cent
• North East - £101,440 - month on month: -2.1 per cent; year on year - 7.1 per cent

There were 48,704 sales in April 2011 - a fall of 7 per cent on 2010.

The average house price across England and Wales fell by 2.2 per cent in the year to May 2011, the lowest recorded year on year drop in the average house price since October 2009.

London was the only region to see a rise in its average house price - at 2.9 per cent, while the North East saw the largest fall of 6.9 per cent.

The month on month change saw the average house price remain broadly flat, dropping by 0.4 per cent betweeen April and May. The East Midlands saw a 4 per cent rise in house prices over the mnoth, while prices in Wales slid by 3.5.

There was a 13 per cent drop in the sales volumes for the year to March 2011. Some 44,803 homes were sold over the year.

House prices were up 0.8 per cent on average in April 2011 compared with March, to be above zero for the first time since January 2011. This April saw the largest growth in house prices since January 2010.

However prices were down 1.3 per cent compared with April last year.

Property transactions have also fallen, with an average of 46,818 house sales a month recorded for between November 2010 and February 2011, compared to 54,479 a month for the same period last year.

London saw the largest change by region - with prices 3 per cent up in April 2011 from last month to reach £352,187, and rising by 5 per cent compared to a year ago. By contrast the North East saw the sharpest drop - by 1.7 per cent in April 2011 compared to March and 8.1 per cent down from April 2010, with the average price at £103,295.

House prices in England and Wales fell 0.8 per cent between January and February and 1.7 per cent in the year to February. The number of house sales fell by 30 per cent between December 2010 and 2009.

House prices rose for the first time in five months. Prices in January were 0.2 per cent than the previous month following falls in prices since August. However prices were still 0.9 per cent lower in January 2011 than the same month a year earlier.

The number of house sales dropped by 12 per cent over the year from November 2009 to 2010. London, the south west, south east and east saw prices rises between December and January while London and the east also experienced price increases over the year.

The house price index ended the year a few points lower than its level at the start of 2010. London had the largest price increases and four other regions saw their prices rise over the year. The north east had the largest fall at 3.3 per cent.

Despite a number of warning signs to the contrary, house prices held relatively steady between July and August.

Although August's monthly house price change of 0.3 per cent is the fifth month in a row in which the movement has been positive, it is a fall from last month's growth figure of 0.4 per cent.

Annual house price change has remained positive for 10 consecutive months, with a movement of 6.7 per cent in August. This is a slight decrease from last month's figure.

Sales volumes have increased from last year. In March to June 2009, transaction volumes averaged 43,825 per month, while in the same period this year the average was 53,089 sales.

London experienced a positive monthly house price change of 0.9 per cent in August, bringing the average property price to £345,734. This is the sixth month in a row in which the capital's monthly movement has been upwards.

House prices increased by 0.4 per cent month on month during July.

The rate of growth slowed down from 0.5 per cent a month earlier and this was also reflected in the annual house price growth, which was 6.7 per cent, compared to 8.4 per cent a month earlier.

With mortgage approvals and loans remaining flat for most of the year to date, recent evidence from RICS begins to become more important.

Housing instructions are increasing while demand is falling.

This could be the reason for the slowdown in house price growth at present, with the situation potentially worsening over coming months.

According to the Land Registry, house prices recovered very slightly in June after reporting a small fall in May.

The average house price in the UK was £166,072 in June, showing an annual increase of 8.4 per cent.

While this recovery is positive, it is just a reversal of the drop a month earlier. Recent anecdotal evidence from RICS suggests that, following the abolition of home information packs, the supply of new houses onto the market is coming at a time when new buyer enquiries are falling.

Over the coming months, there could be downward pressure on house prices.

According to the Land Registry, house prices fell in May by 0.2 per cent, reducing the annual increase to 8.2 per cent, compared to 8.5 per cent in the previous month.

This reduction in prices fits with the recent findings from RICS, which suggested there had been a sharp drop in new buyer enquiries, just as more houses were being listed for sale following the abolition of home information packs.

The supply / demand imbalance could push house prices down further over the next few months.