The Land Registry has confirmed the slowdown in property prices by publishing its quarterly report for the last three months of 2004.

Its figures show that house prices were 11.8% higher than in the last quarter of 2004, and down from 16.3% higher than in the previous quarter (July-September).

The average price of a house in England and Wales was £182,920, down from £187,971 in the previous quarter. The cost of buying fell in seven of the 10 regions identified by the Land Registry as comprising the survey area, with the slowest growth seen in Greater London at 6%.