By Daniel Hunter

The February data from Land Registry's flagship House Price Index shows an annual price decrease of 0.6%, which takes the average property value in England and Wales to £161,588.

The monthly change from January to February is an increase of 0.1%.

The region in England and Wales which experienced the highest increase in its average property value over the last 12 months is London with a movement of 4.2%. Wales experienced the greatest monthly rise with a movement of 2.0%.

The North West experienced the greatest annual price fall with a decrease of 3.5%. The North East saw the most significant monthly price fall with a decrease of 2.6%
The most up-to-date figures available show that, during December 2011, the number of completed house sales in England and Wales increased by 8% to 61,470 compared to 56,875 in December 2010. The number of properties sold in England and Wales for over £1 million in December 2011 decreased by 13% to 488 from 559 in December 2010.

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