House price growth in London has reached a four-year low, according to the latest Hometrack UK Cities House Price Index.

The index, which uses price paid data from the Land Registry as well as its own mortgage valuations, registered annual house price growth in the capital at 5.6% to £488,700 for February.

In comparison, the rate of growth was at more than double in February 2016 at 12.8%.

The latest figure is the lowest level since May 2013.

The slowdown has seen London fall to tenth in the list of cities with the fastest growing prices and Hometrack says the city is acting as a drag on headline growth, which has dropped from 7.8% last year to 6.4% in February 2017.

Meanwhile, Manchester is registering the highest annual rate of growth at 8.8% to an average price of £151,800.

Some of the high levels of growth seen in Cambridge and Bristol last year have also settled.

In February 2016 the index recorded 12.1% growth in Cambridge, but it is now at 2.2%, while Bristol has fallen from 12% to 8%.

Richard Donnell, insight director at Hometrack, said: “Levels of housing turnover across UK cities are expected to remain broadly flat over 2017.

“There is some further upside for sales volume in regional cities but much depends on how would-be buyers respond to external factors, not least the impact of lower real wage growth, the potential for higher mortgage rates and whether demand will be impacted by the triggering of Article 50 at the end of the month.

“Buyers are fully aware of the Government’s plans and timescales for Brexit but there remains huge uncertainty over what this means for the economy over the next two to three years and beyond.”

While Hometrack’s “house price index” mentions percentages, it never gives any actual house prices.