The housing market slowdown is hitting sales of lower priced homes harder than more expensive properties, according to Q1 figures released from the Land Registry today.
The average house price in England and Wales is 183,486 this quarter, showing an average annual increase of 10.27 per cent, compared to 14.06 per cent for the same period last year.
In Greater London, the average house price increased by 9.83 per cent, from 262,685 in 2004 to 288,507 in 2005.
Welsh towns showed both the highest and lowest average property price increases for the quarter.
Merthyr Tydfil and Blaenau Gwent come top with 44 per cent and 30 per cent respectively and the Vale of Glamorgan showed the lowest average increase, at just 0.94 per cent.