House prices surveys: mixed messages paint a clear picture | Money | guardian.co.uk
The average house price in England and Wales fell by 0.8% in June, taking the annual price fall to 1.4%, according to the latest LSL Property Services/Acadametrics house price index.
This represents the largest year-on-year drop since December 2010, and means the average home is now worth £219,365 – a level last seen in January 2010. It also means the marginal gains over the past 18 months have been wiped out, although house prices are significantly higher than the £200,234 average reached in April 2009.
David Newnes, director of LSL Property Services, which owns estate agents Your Move and Reeds Rains, said: "In the current market, a monthly fall of 0.8% is relatively large. The greatest downward driver on national prices is the decrease in the price of high value homes due to a slump in demand following April's stamp duty rise for homes worth over £1m.
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