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England/Wales House Prices Fall For 14th Month: Land Registry

3/23/2012 7:40 AM ET

House prices in England and Wales declined for the fourteenth conservative month in February, but the rate of fall slowed from January, data from a survey by Land Registry showed Friday.

The house price index decreased 0.6 percent on an annual basis in February, marking the fourteenth conservative decline. The rate of fall was, however, slower than January's 1.1 percent drop.

London, where house price gained 4.2 percent year-on-year, continued to remain an exception. South East and South West were the other places where prices increased - 1.1 percent and 0.1 percent respectively.

Month-on-month, house prices edged up 0.1 percent in February, sharply showed than the previous month's 1 percent growth.

The average price of a house in England and Wales was GBP161,588 in February, higher than GBP161,368 recorded in the previous month.

by RTT Staff Writer

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