Is this sentence correct ?

[duiter]

Dear all,

By 2007, the average house price had risen to almost £190,000, prior to falling back to just under £150,000 in 2008.

many thanks

[JohnParis]

"Prior to" can sound a bit formal at times. You could easily replace it with "before."

By 2007, the average house price had risen to almost £190,000 before falling back to just under £150,000 in 2008.

Please note that I removed the comma after the initial price. I feel that it makes the sentence flow more naturally.

John

[5jj]

I'd leave the comma in, but that's just personal peference.