Residential property prices in the UK are slowing and the general health of the market is overstated, it is claimed.

Prime central London prices continued to increase in January, but at a slower rate, according to the latest real estate index for the UK capital’s property market.

According to the Halifax House Price Index the average price of a house stands at a seasonally adjusted £169,777 in January, which is up 0.6% on December and 3.6% on the same time a year ago.