The Guardian.co.uk has put together a list of property price averages based upon where you live in the UK. House prices have fallen on average of 2.3% in the past month (based on Rightmove.co.uk’s data on asking prices).
Below you’ll find a compiled list of average house prices from August 2007 to August 2008 in England and Wales, based on the Guardian’s article -
Greater London:
* August 2007 = £394,268
* August 2008 = £379,162
* Annual change = -3.8%
* Although July 2008 showed an increase to £400,258
South East
* August 2007 = £305,243
* August 2008 = £293,905
* Annual change = -3.7%
South West
* August 2007 = £263,829
* August 2008 = £253,996
* Annual change = -3.7%
East Anglia
* August 2007 = £231,346
* August 2008 = £215,753
* Annual change = -6.7%
East Midlands
* August 2007 = £184,000
* August 2008 = £174,324
* Annual change = -5.3%
Yorkshire and Humberside
* August 2007 = £177,255
* August 2008 = £167,236
* Annual change = -5.7%
North
* August 2007 = £160,273
* August 2008 = £151,940
* Annual change = -5.2%
North West
* August 2007 = £184,051
* August 2008 = £169,944
* Annual change = -7.7%
West Midlands
* August 2007 = £197,217
* August 2008 = £188,252
* Annual change = -4.5%
Wales
* August 2007 = £188,113
* August 2008 = £177,023
* Annual change = -4.5%
Whatever gains were made in 2007, from 2006, could effectively be wiped off in 2008. With the credit crisis far from over let’s hope house prices don’t correct themselves too much further. Hopefully first time buyer will be able to acquire mortgages soon to help boost the housing market. Or, is it not that simple?
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