The stamp duty holiday last year produced bumper demand from home movers now down a third but still above pre pandemic levels.
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Asking house prices rise for the sixth record in a row to £369,968 as demand to buy continues although at a slowing rate.
House prices in London are up only a third compared to other areas and you can find cheaper homes for commuting to the capital.
In the UK asking house prices have risen to record levels and are £55,000 higher over the last two years before the pandemic started.
After the Bank of England raised base rates to 0.75% lenders have reacted by increasing the cost of mortgages reaching a five year high.
Strong bounce back in demand this year up 50% on usual levels as buyers search for more space in cities and suburbs as offices reopen.
Towns with the highest house price growth in 2021 have seen values rise as much as 21.8%, three times higher than the national average.
Higher demand has seen house prices rising 6.9% in the last year following the Covid lockdown with prices starting to ease.
People are distracted with the festive period and lower house prices in the pre-Christmas lull offer buyers many property bargains.
Record sales of 1.5 million homes are expected for this year and the strongest house price growth in 2022 will continue in regional markets outside London.