By Daniel Hunter

The growth of house prices continued to slow down in December, according to the Land Registry.

The Land Registry said prices in England and Wales were up 7%, down from the growth of 7.2% in November. It marked the fourth consecutive month in which growth slowed down.

A similar survey by Nationwide painted a similar picture. The building society said prices were up 0.3% in January, but the annual rate of growth was down to 6.8%.

The average price for a house is now £188,446, according to Nationwide, and £177,766, according to the Land Registry.

Nationwide added that it's not clear why the house prices have fallen steadily since the summer, with mortgage approvals down 20% and subdued buyer enquiries, despite the improved economic background.

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