There was an annual price fall of 3.2% in October, according to data from Land Registry’s latest House Price Index.

The average property value in England and Wales to £159,999. The monthly change from September to October is a fall of 0.9% and continues the negative monthly price change seen in September.

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 0.3%. The East experienced the greatest monthly rise with a movement of 0.7%. The North East experienced the greatest annual price fall with a decrease of 7.2%. Wales experienced the most significant monthly price fall with a movement of -3.0%.

The most up-to-date figures available show that during August 2011, the number of completed house sales in England and Wales increased by 1% to 62,010 from 61,469 in August 2010.

The number of properties sold in England and Wales for over £1 million in August 2011 decreased by 7% to 714 from 764 in August 2010.