Last month the Land Registry reported that house prices had recorded their first rise in 18 months, albeit by just 0.1%. That has been followed by a 1.7% rise in July, the most significant gain seen since July 2004. This represents a rise from £153,046 to £155,885 in the average value of property in England and Wales.
The gains mean that the annual rate of decline has slowed to 11.7%. Every region enjoyed a rise in prices, with Wales recording the biggest monthly upturn of 3.1%. It was least pronounced in Yorkshire and Humber, where prices rose by 0.9%.