According to the September data from Land Registry’s House Price Index, there was an annual price decrease of 2.6%.
This takes the average property value in England and Wales to £162,109.
The monthly change from August to September is a decrease of 0.3% and continues the negative monthly price change seen in August of -0.1%.
The Land Registry said that the only region in England and Wales to experience an increase in its average property value over the last 12 months is London with a movement of 2.7%. The North West experienced the greatest monthly rise with a movement of 1.0%.
The North East experienced the greatest annual price fall with a decrease of 8.2% and the most significant monthly price fall with a movement of-3.9%.
The most up-to-date figures available show that during July 2011, the number of completed house sales in England and Wales fell by 11% to 59,919 from 67,475 in July 2010.
The number of properties sold in England and Wales for over £1 million in July fell fell by 24% to 707 from 932 in July 2010.