The monthly change from May to June is 0.0 per cent.
The only region in England and Wales to experience an increase in its average property value over the last 12 months is London with a movement of 0.8 per cent. Wales experienced the greatest monthly rise with a movement of 2.8 per cent. The North East experienced both the greatest annual price fall with a decrease of -7.1 per cent and the most significant monthly price fall with a movement of -2.1 per cent.
The most up-to-date figures available show that during April 2011, the number of completed house sales in England and Wales decreased by 7 per cent to 48,704 from 52,272 in April 2010. The number of properties sold in England and Wales for over £1 million increased by 45 per cent between April 2010 and April 2011, from 549 to 798.
Nicholas Ayre, director of UK buying agents Home Fusion, commented:
"There's plenty here for the doomsayers to get their teeth stuck into. In June the national figure was totally flat, and even in the London bubble, average prices fell for a second month.
"But just a quick health warning - the data can be fickle.
"Just as your car's fuel gauge becomes unreliable when the engine's running on empty, so these figures have less value when the number of sales is so low.
"Outside London, demand has fallen off a cliff, and unsurprisingly, so have prices.
"Even within the London microcosm, we're seeing a big divergence between the prime market and the rest.
"At the top end of the market, supply is limited and demand is booming. With the Pound relatively cheap, ultra-rich international buyers are spraying their money around the most desirable areas.
"This is steadily driving prices up, and prime properties are flying out the door.
"Less fashionable areas appear more of a buyers' market, with a big gap opening between asking and sale prices.
"And because there is more supply and fewer buyers, those looking to buy can afford to be pickier.
"But for the country as a whole, the market is still desperately fragile. With lenders still reluctant to offer mortgages, and many who bought in the boom trapped in their current homes by negative equity, there's little chance it will perk up any time soon."
