The Land Registry has stated that house prices in England and Wales have been fairly flat.

The annual drop of 9.4% was up from the 16.3% low that was seen in February, bringing average house prices to £155,968.

More recent figures has shown house prices have steadied and has been regarded as the beginning of the way out of recession for some forecasters. Others are regarding it as a ‘false dawn’.

Figures from the Land Registry have shown that the West Midlands and London have experienced the greatest monthly price increase at 0.8%. This has brought the price of a London property to almost double the average in England and Wales combined, at £310,640.

The Land Registry’s figures are only based on completed transactions though, so are generally slightly behind actual transactions.

The recent figures still show that there will be more price rises.

Even though mortgage lending is still fairly restricted there has been a large increase in the number of enquiries looking for advice on the best mortgage deals available for investors to purchase investment property.

The figures today shows that all regions are experiencing a decrease in average property values in the last year. The most significant fall has been seen in the North West at 12.7%. The most, however, has been Hartlepool where the greatest annual fall was 23.7%.