Average UK residential prices remained practically flat in August 2009, as they posted a minimal monthly decline of 0.1%, according to the latest house price data released by the UK Land Registry.
House prices in England and Wales averaged £155,968 in August 2009, representing a an annual drop of -9.4%, which represents considerable deceleration from the highest annual rate of decline of about -16% posted in February 2009.
UK residential prices posted mixed monthly trends across the country's regions, as six of the ten regions covered by the data posted gains and the remaining four registered declines.
In particular, London, West Midlands and East posted the highest monthly house price gains of 0.8%, 0.8% and 0.7%, respectively, in August 2009. Wales and South East posted monthly house price gains of 0.5% and 0.3%, respectively.
Average house prices in East Midlands, North East, Yorkshire & The Humber and North West declined in August 2009, with the last two posting the highest monthly drops of -1.8% and -2.1%, respectively.
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