According to the latest statistics published by government agency HM Land Registry, house prices in England and Wales shot up by 0.8 per cent between the months of March and April.

In other data, it was shown that the average property value is currently £163,083. This is after it was calculated that in the last year, property prices have decreased by 1.3 per cent.

The total number of completed house prices recorded in February 2011 also fell by 10 per cent compared to the same time last year.

The regions of London and the North East experienced the greatest changes in property prices, with the former experiencing an increase 5 per cent whilst the latter saw an 8.1 per cent drop.

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