Fall in house prices across most UK regions

The value of UK homes fell over the course of the last 12 months but some regions did experience a slight rise. London property prices increased this year although month-on-month figures show a decline from January's records. Average house prices in England and Wales fell in February despite a rise in the value of homes in London and the East of England, according to figures revealed by the Land Registry. The average value of homes in England and Wales dropped to £162,215 in the year to February, marking a 1.7% fall. However, house prices in the capital and the East of England rose by 3.2% and 1% respectively.