House prices fall across most of England and Wales

The average house price across England and Wales stood at £172,011 in June, the Land Registry has reported.

The figure means that house prices rose just 0.1% from May, but were up 6.4% from June 2013.

The average house price is still below the peak of November 2007 when the Land Registry reported it at £181,466.

In London, the average house price was 16.4% higher than the previous year, at £437,608.

Noticeably, in all but three areas, house prices went down between May and June. They rose in the west midlands by 1.9% and were up 0.6% in the south-east and 0.1% in London, but everywhere else, they fell.

The biggest falls were in the south-west (0.9%), east midlands (1%), north-east (1%) and Yorkshire and the Humber (1.3%).

The number of property transactions has jumped to an average of 65,679 a month between January and April – the last period for which data is available.

The figure is up from an average of 48,597 house sales for the same period last year. In April itself there were 66,659 home sales, compared with 51,022 in April 2013.