House prices are growing at their slowest rate for almost a decade according to new figures from the Land Registry.

Their latest residential property price report covering the period April - June 2005, is published today and shows a 5.43% rise. The last time figures were this weak was back in 1996.

Figures from the Land Registry are normally delayed when compared to monthly surveys by Nationwide and Halifax. This is due to the Land Registry only using completed sale data rather than mortgage approvals data used by the banks.

The average house price in England and Wales for the quarter is £184,924 an annual increase of 5.43% compared to an average of 16.98% for the same period last year.

The volume of sales in England and Wales decreased by 27.7% from 299,986 in 2004 to 216,890 for the same period in 2005. Q1 sales decreased by 35% from 243,914 in 2004 to 159,116 in 2005.

England and Wales

• The average price increased by 5.43% from £175,401 in 2004 to £184,924 for the same period in 2005.
• All economic regions in England and Wales show an increase in average prices.
• The volume of sales decreased by 27.70% from 299,986 in 2004 to 216,890 for the same period in 2005.
• 718 properties over £1 million were sold compared to 977 for the same period in 2004.
• 70,117 properties were sold for less than £120,000.

Greater London

• The average property price increased by 4.61% from £280,431 in 2004 to £293,349 for the same period in 2005.
• The volume of sales decreased by 28.37% from 36,643 in 2004 to 26,249 for the same period in 2005.
• 454 properties over £1 million were sold compared to 638 for the same period in 2004.