If you look at the bottom of the screen it shows the date of the current view and, yes, it does seem to be updated frequently. I went on there to find the name of a camera shop that I'd bought something from a couple of years ago and found that it had closed down.
at bottom of screen it does say imagery date and toward the bottom left it will give you a year (mine says 2006 i don't know if everyone's is the same) click on that and it will give you a dated sliding scale at the top of screen of when satellite image was taken i think street view is also very close to that date as last years image of my house has tractor + trailer going through field gate to where i was working by another gateway on the road and street view shows me doing the job. i also saw a google camera car go past me but never thought anything of it