The number of property sales went up slightly in the three months to January 2016 compared to a year earlier, according to the latest Land Registry House Price Index.
Its March release found that between October 2015 to January 2016, sales volumes averaged 74,374 per month in England and Wales, up slightly on the 73,744 averaged between October 2014 and January 2015.
However, there was a 5% reduction in the number of sales in January itself, down from 56,937 in January 2015 to 54,254.
In London, the drop was steeper in January, down 14% from January 2015 from 7,821 to 6,728.
Overall, across England and Wales, in March the average property price was £189,901, down 0.5% on the month but up 6.7% annually.
The average price in London was £534,785, up 13.9% from March 2015.
The average price of the 36% of transactions counted by Land Registry is £189,901, the average property price transacted was much higher.
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