House prices fall by 0.2% in October

On average, house prices fell by 0.2% in October when compared to September, despite growing by 2.7% on an annual basis, taking the average price of a property in the UK to £231,095, new research has found.

Data published by the Land Registry revealed that, in England alone, house prices have fallen by 0.2% since September 2018. The annual price rise of 2.4% takes the average property value to £247,914.

During October, there were only two regions in England that experienced a growth in house prices when compared to September – the North West (1.2%) and Yorkshire and the Humber (1%).

However, the North East saw average prices drop by just under 2% in the month, followed by the South West where prices fell by 1.2%.

Wales had a similar experience in October, with house prices falling by 3% since September. Despite this, an annual price rise of 3.8% takes the average property value to £160,874.

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