Annual growth of 6.7% brings average property prices to £179,492.

The Land Registry has just released the latest house price data for January which shows an annual price increase of 6.7 per cent which takes the average property value in England and Wales to £179,492 compared with the peak of £181,101 in November 2007. House prices are up 1.3 per cent since December.

The regional data indicates that:

• London experienced the greatest increase in its average property value over the last 12 months with a movement of 12 per cent
• the North West experienced the greatest monthly rise with a movement of 2.6 per cent
• the North East saw the lowest annual price growth with a movement of 0.1 per cent
• Yorkshire & The Humber saw the largest monthly price fall of 1.5 per cent.

Sales and repossessions during November 2014, the most up-to-date figures available, show that:

• the number of completed house sales in England & Wales decreased by 19 per cent to 68,107 compared with 83,726 in November 2013
• the number of properties sold in England and Wales for over £1 million decreased by 18 per cent to 869 from 1,060 a year earlier
• repossession volumes in England and Wales decreased by 47 per cent to 687 compared with 1,286 in November 2013
• London was the region with the greatest fall in repossession sales

Region	Monthly change since December 2014	Annual change since January 2014	Average price January 2015
North West	2.6%	3.7%	£113,861
South West	1.5%	6.3%	£187,032
East	1.4%	10.4%	£200,925
England & Wales	1.3%	6.7%	£179,492
South East	1.2%	9.4%	£242,232
East Midlands	0.9%	4.7%	£132,984
West Midlands	0.9%	4.4%	£137,367
Wales	0.7%	1.6%	£119,263
London	-0.2%	12.0%	£458,283
North East	-0.2%	0.1%	£97,974
Yorkshire & The Humber	-1.5%	2.8%	£119,408