{"id":284476,"date":"2011-02-28T13:01:08","date_gmt":"2011-02-28T13:01:08","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/02\/28\/all-property-types-dip-in-value\/"},"modified":"2011-02-28T13:01:08","modified_gmt":"2011-02-28T13:01:08","slug":"all-property-types-dip-in-value","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/02\/28\/all-property-types-dip-in-value\/","title":{"rendered":"All property types &#8216;dip in value&#8217;"},"content":{"rendered":"<p><div readability=\"104.409555288\">\n        \t\t  <span><br \/>\n    <span>28 February 2011<\/span><br \/>\n<span>Last updated at <\/span><span>08:01 ET<\/span><br \/>\n<\/span><\/p>\n<p>Every property type in England and Wales fell in value in January compared with a year earlier, according to the latest Land Registry figures.<\/p>\n<p>The prices of semi-detached homes fell the most, dropping by 1.6% year-on-year to an average of \u00a3153,663.<\/p>\n<p>In general, house prices dipped by 0.9% in January compared with January 2010, but rose 0.2% compared with December.<\/p>\n<p>The figures again showed that there was a notable geographical divide in the direction of house prices.<\/p>\n<p>Properties in London increased by 1.6% in January compared with December, and were up 2.4% compared with the same month a year earlier.<\/p>\n<p>This meant the average home in the capital cost \u00a3341,871.<\/p>\n<p>The only other region to register an annual price rise, as well as a month-on-month uplift, was the East of England. Here, prices crept up by 0.2% in January compared with January 2010, leaving the average home in the region worth \u00a3174,550.<\/p>\n<p>At the other end of the scale, homes in Wales fell in value by 4.2% in January compared with December, and were down 6.1% year-on-year. The average home in Wales cost \u00a3116,217.<\/p>\n<p>  <span>Property types<\/span><\/p>\n<p>As well as providing regional figures, the Land Registry breaks down house prices to property types.<\/p>\n<div readability=\"28.9096573209\">\n\t<a href=\"http:\/\/www.bbc.co.uk\/news\/business-12596633#story_continues_2\">Continue reading the main story<\/a>\t\t<\/p>\n<h2>Regional house price annual changes<\/h2>\n<p>\t\t<!-- pullout-items--><\/p>\n<p>\t<!-- pullout-body--><\/p>\n<ul>\n<li> London: up 2.4%<\/li>\n<li> East: up 0.2%<\/li>\n<li> South East: down 0.1%<\/li>\n<li> South West: down 0.4%<\/li>\n<li> West Midlands: down 1.4%<\/li>\n<li> East Midlands: down 1.9%<\/li>\n<li> North West: down 2.1%<\/li>\n<li> North East: down 2.5%<\/li>\n<li> Yorkshire and Humber: down 2.6%<\/li>\n<li> Wales: down 6.1%<\/li>\n<\/ul>\n<p>Source: Land Registry &#8211; January 2011<\/p>\n<p>\t<!-- pullout-links-->\n\t<\/div>\n<p>This showed that, as well as semi-detached properties falling in value, detached homes fell in value by 0.2% in January compared with the same month a year earlier.<\/p>\n<p>Terraced homes fell in value by 0.8%, and flats and maisonettes by 1.3%, over the same period.<\/p>\n<p>The Land Registry&#8217;s figures are considered to be the most comprehensive of house price surveys, although the publication does lag behind other surveys.<\/p>\n<p>However, these figures strengthen the conclusions drawn from other surveys which have shown that the turn of the year has been sluggish for the housing market.<\/p>\n<p>The number of properties sold in England and Wales was lower towards the end of 2010 than during the same period a year earlier.<\/p>\n<p>And figures on prospective mortgage lending suggest there will be little pick up in activity in the coming months.<\/p>\n<p>  <span>New offer<\/span><\/p>\n<p>Northern Rock has announced that it is to return to some level of riskier lending by offering mortgages of up to 90% of a property&#8217;s value for the first time since it was nationalised.<\/p>\n<p>It is offering a two-year fixed rate home loan at 5.99%, a three-year loan at 6.49% and a five-year loan at 6.59%. <\/p>\n<p>This is not the cheapest on the market, but the bank said these products were designed to appeal to potential first-time buyers unable to raise a large deposit.<\/p>\n<p>Prior to nationalisation, the lender was criticised for offering Together mortgages, which allowed customers to borrow up to 125% of the value of a property. <\/p>\n<\/p><\/div>\n<\/p>\n<p>Read more here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/www.bbc.co.uk\/go\/rss\/int\/news\/-\/news\/business-12596633\" title=\"All property types 'dip in value'\" rel=\"noopener noreferrer\">All property types &#8216;dip in value&#8217;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> 28 February 2011 Last updated at 08:01 ET Every property type in England and Wales fell in value in January compared with a year earlier, according to the latest Land Registry figures. The prices of semi-detached homes fell the most, dropping by 1.6% year-on-year to an average of \u00a3153,663. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-284476","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>All property types &#039;dip in value&#039; - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/02\/28\/all-property-types-dip-in-value\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"All property types &#039;dip in value&#039; - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"28 February 2011 Last updated at 08:01 ET Every property type in England and Wales fell in value in January compared with a year earlier, according to the latest Land Registry figures. 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