West Mids homes drop to under £130k average
Average house prices in the West Midlands have dropped below £130,000, the Land Registry has reported.
The 1 per cent monthly fall means that average residential property prices in the region have sunk by 3.2 per cent over a year to £129,082.
The figure, covering December 2011, comes as the average house price for all England and Wales fell by 1.3 per cent over the year to £160,384. There was no month-on-month change.
The North West experienced the biggest month-on-month rise of 1.5 per cent to £113,204 while the North East suffered a 1.9 per cent monthly fall to £99,464.
The cheapest houses in the country continue to be in the North East with London now recording an average house price of £345,298 - 0.8 per cent up on November's figure. The steepest annual drop, of 7.1 per cent, was recorded in the North East with London the only area to report a rise in house prices of 2.8 per cent.
