In December house prices rose by 0.4 per cent on the previous month, according to the latest figures from the Department for Communities and Local Government (DCLG).

Despite this the figures still point towards a slow down in house price growth. The latest statistics said that the annual rate of house price inflation was 9.1 per cent – down from 9.7 per cent in November.

The latest figures add to evidence which suggests that the housing market boom may be coming to an end. Last year top mortgage lenders such as Nationwide Building Society said they expected house price inflation to drop to 0 per cent in 2008.

According to the DCLG the average price of a home in the UK is was £219,591 in December.

The DCLG also said that UK annual house price inflation for the last three months to December fell from 10.5 per cent to 10 per cent.