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Sales volumes plummet 58%, reveals Land Registry

This is down on the 75,374 per month, according to the Land Registry’s House Price Index for April published today.

The City of London, Rutland, the Isle of Anglesey, Merthyr Tydfil, Blaenau Gwent, Ceredigion and Torfaen are among the areas that have suffered the lowest transaction levels.

In terms of price range, properties priced between £250,001 and £300,000 proved least popular across England and Wales, with transactions down 63% to 1,210 in February 2009 year-on-year.

The number of £1m+ properties sold in London decreased by 56% in the 12 months to February, down from 181 to 80. Properties in the city priced between £100,001 ad £150,000 experienced the smallest decline, down 40% to 232 transactions.

Meanwhile, the average UK house price declined 0.3% on a monthly basis and 16.2% on an annual basis to £152,898 in April.

Agents in Middlesbrough have seen the greatest decline, with local prices down 4.4 on a monthly basis and 18.9% on an annual basis to £92,292. Conversely, prices in Merthyr Tydfil increased, up 5.6% and 3.3% on a monthly and annual basis respectively. The monthly increase was the highest increase by any county or unitary authority in April.In London, agents in Hillingdon saw the smallest annual price fall, down 11.9% to £245,760 while agents in Tower Hamlets saw the greatest decrease, with prices up 21.6% to £301,778.

 


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