Prices begun to sink last year and the trend is isn’t over yet. According to HM Revenue and Customs, property sales in UK went down by 7, 000 in August, 6, 000 lower than the month of July.

August house prices went down by 0.3% in comparison to last year selling rate makes a typical home worth just a little over £162, 000. Regions like West Midlands, Yorkshire and the Humber, the North East, the South East, the North West and South West, were all seen to have experienced falls in August.

Wales received the hardest hit with a 1.7% decrease which completes a 5.5% decrease rate in just a year. According to Land Registry, this figure turns a typical home value to just £ 117, 534.

Wales and England have drawn a yearly decrease of 2.6% according to the most recent House Price Index. This fact greatly affects the selling price of an average property to just £ 162, 347 in value.

On the other hand, a considerable rise in property sales has been observed in the East. House prices in the East Midlands and London went up between July and August. The East projected the highest price increase with 0.8% making a typical home value at £ 175, 079.

London is seen to have the most increase in property sales in the last 12 months with a rise of 2.1% which makes an average family home now equivalent to £ 179, 079. The volatility of recent house prices are attributed to present transactions tendered below pre-recession levels.

According to the latest surveys, the total number of successful house sales in both England and Wales fell by 13% to £ 54, 776. Lesser luxury residences are being sold in England and Wales with a sum total of over 1 million down by 28% over the year to June 2011, to 465. Regretfully the above numbers do not indicate how many homeowner had to sell their house quickly.