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House prices down 2.6% year-on-year in September

House prices fell 2.6 per cent on an annual basis in September, according to the latest house price index from the Land Registry.

Prices fell 0.3 per cent between August and September, meaning the average house price in England and Wales is now £162,109.

London was the only region to experience an increase in its average property price over the past year, with prices increasing by 2.7 per cent over the past month.

The North East experienced the greatest fall, with prices dropping 8.2 per cent over the past year.

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