House Prices continue to drop in a year long slide.

According to recent figures released by the Land registry, house prices have dropped in all areas, with the only exception being London.

In England and Wales in June the average property price was £161,479 which represents a downward direction on last year of 2.5% London being the only location to see growth over the last 12 months, with the average property price being £339,480 an overall increase of 0.8%

The North East being the hardest hit over the last year with falls of £7.1%, in the north west prices were down by 5.2% and in Wales by 4.4% House sales fell in January – April , with the latest figures dropping from a monthly of 45,509 for the same period last year to 42,733 this year.

In April itself, there were 48,704 house sales, a fall of 7% on the 52,272 in April last year.

Kevin Cox of Igloolets.com A Bristol letting agents, said “Overall the property market on the sales side is flat with the sever lack of lending .The lettings markets is going forward in leaps and bounds with more mortgage products coming on stream, for buy to let landlords. Outside of London the sales market is close to rock bottom”