The latest House Price Index from the land registry showed that the average price of all completed sales rose by 0.8% in April to £163,083. However the average sale price in February to April period was 1% lower than in the previous three months.
Prices in April were 1.3% lower than a year ago and monthly sales have also fallen by 14% in the past year.
Fears of unemployment among would-be buyers and the rationing of mortgage funds by lenders are attributed to the general stagnation of the market.
House prices in London contradicted the rest of the country and rose 3% in April to an average of £352,187.
In contrast the house prices in the north-east of England fell by 8% to £103,295 in the year to April.
The Land Registry, said: “London’s annual change now stands at 5%, which is much stronger growth than that seen by any other region in England and Wales. Only London and the South East experienced increases in their average property value over the last 12 months.”
