Data from the Land Registry show a decrease in prices in seven out of ten areas with a sharp rise in sales of £1m properties.
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Office of National Statistics (ONS) data shows house price inflation reached 10.5% in May the highest level for four years.
New data from the Nationwide reveal London homes increased in value with average prices now over £400,000 for the first time.
Lenders have increased the cost of fixed rate mortgages after the Bank of England signal the end of cheap borrowing.
The number of mortgage approvals have reduced in the last four months following the Mortgage Market Review and worries about interest rates.
National Housing Federation (NHF) says first time buyers now need 10 times the deposit when compared to buying in the early 1980s.
As the demand for low deposit loans increases George Osborne gives the bank of England power to cap risky mortgage lending.
The average price of a UK home last month has increased by the biggest margin for ten years according to the Halifax.
The European Commission is concerned with Britain’s house price inflation calling on the Chancellor to “deploy appropriate measures”.
Data from the Treasury shows that 80% of borrowers of the controversial Help to Buy scheme are first time buyers mainly from outside London.