After two brief months of marginal price increases, house prices have again started to fall, according to the latest house price index from Academetrics/LSL Property Services.
Prices declined in September by -0.3% on a monthly basis and -2.3% on an annual basis.
The average price of a property in England & Wales now stands at £218,650, i.e. some £18,416, or 9.2%, above the price observed at the trough of the last housing recession, which was in April 2009. However, the price is still £13,179, or 5.7%, below the house price peak of £231,828 recorded in February 2008.
The smoothed average house price, nationally, in England & Wales fell by -2.3% in September.
Greater London also recorded the largest monthly growth at +1.1% amongst the seven (of 10) regions in which house prices grew in August.
Dr Peter Williams, chairman of Acadametrics, said: “Taken together
