House prices fall by 0.9%, says Land Registry | Money | guardian.co.uk

House prices fall by 0.9%, says Land Registry | Money | guardian.co.uk

House prices in England and Wales fell by 0.9% in October 2011, taking the annual fall in prices to 3.2% and the average price of a property to £159,999, according to latest Land Registry figures.

It said the east of England experienced the greatest monthly rise during October with an increase of 0.7%, while prices in Wales fell by 3%.

The north-east experienced the greatest annual price fall with a decrease of 7.2%, while the only region in England and Wales to experience an increase in average property values during the past year is London, with a rise of 0.3%. However, even the capital has seen a downturn during the autumn with house prices falling by 1.7% in October, taking the average price to £340,308.