England, Wales see decline in property prices

Last month saw a slight decline in property prices across England and Wales, which may have implications for selling your own home.

Land Registry data reveals that between May 2010 and last month, prices declined by 2.2 per cent, with the average cost now standing at £161,823.

Between April and May, mean costs fell by 0.4 per cent, with the only region to have experienced price rises being London.

The most up-to-date figures available show that during March, the number of completed house sales fell by 13 per cent from 51,399 in March 2010 in 44,803.

Research from Post Office Mortgages shows that sometime in the immediate future, 1.8 million young women between the ages of 18 and 34 are hoping to buy a property.

However, only a fifth of men plan on getting on the property ladder at some point in their lives, compared to 28 per cent of women.

  • Property News from Lawpack: buying or selling your own house? Straight-forward advice on selling your own home.

Published on: June 28, 2011

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