There was an annual price decrease of -2.5% in June, taking the average property value in England and Wales to £161,479, according to new data from Land Registry’s House Price Index.

The monthly change from May to June is 0.0%.

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 0.8%.

Wales experienced the greatest monthly rise with a movement of 2.8%. The North East experienced both the greatest annual price fall with a decrease of -7.1% and the most significant monthly price fall with a movement of -2.1%.

The most up-to-date figures available show that during April 2011, the number of completed house sales in England and Wales decreased by 7% to 48,704 from 52,272 in April 2010.

The number of properties sold in England and Wales for over £1 million increased by 45% between April 2010 and April 2011, from 549 to 798.