There was a year-on-year home price decrease of 1.3% in April, according to the Land Registry’s House Price Index.

The average property value in England and Wales is now £163,083.

The monthly change from March to April is an increase of 0.8%.

The Land Registry also reported that two regions in England and Wales experienced increases in their average property value over the last 12 months. The region with the highest annual price change was London with an increase of 5%. London also experienced the greatest monthly rise with a movement of 3%.

The North East experienced the greatest annual price fall with a decrease of -8.1%. This region also experienced the most significant monthly price fall with a movement of -1.7%.

The most up-to-date figures available show that during February 2011, the number of completed house sales in England and Wales decreased by 10% to 38,336 from 42,515 in February 2010.

The number of properties sold in England and Wales for over £1 million increased by 14% between February 2010 and February 2011, from 399 to 454.