House prices rose up by the narrowest of margins in September, with the average price rising £120 over the month to £292,763, according to the latest Your Move House Price Index.
Prices in England and Wales are now 3.5% up on last year, with the average house worth £9,896 more than in September 2015.
High priced prime London property continues to see the biggest slowdown in inflation, while cheaper property on the periphery and the leading regions are still seeing strong growth year on year.
Adrian Gill, director of Your Move and Reeds Rains estate agents, said: “We’re seeing a two speed market become firmly established as cheaper parts of the capital and the regions record big price increases driven by demand for affordable homes, while prime London property stalls.”
“At the same time transaction levels are showing how much the market has changed, with the number of properties now held by private landlords changing market dynamics.”
“This all creates big challenges for government housing policies, which are going to have to be flexible enough to allow regions to make use of the solutions that work best for their different needs.”