By Max Clarke

House prices have slipped a further 2.2% over the past 12 months, with the average cost hitting £161,823, the latest figures from the Land Registry indicate.

Again, London emerged as the only region in the UK to see an overall increase in house prices, edging up 2.9% in a year. Conversely, Newcastle’s mean house price has fallen by nearly 7% over the same period.

Numbers of sales, meanwhile, have decreased by 13 percent in a year, bringing to light the continued troubles seen in the UK housing market. Bucking this trend are sales of million-pound houses, which have seen a 58% surge, from 511 to 805.

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