Strong demand from first time buyers continues as the price paid for homes reaches record highs in London across the country.

After recent falls house prices have rebounded with the smallest gap between best and worst performing regions on record.

The number of property sales were -7% lower during 2016 with the majority of towns in England and Wales decreasing.

Research for Mayor of London Sadiq Khan shows first time buyers in the capital are losing out to overseas investors acquiring property.

Despite the property market slowing down this year house prices have unexpectedly rebounded including expensive London.

Manchester house price growth leads the UK while there is a material slowdown in the most unaffordable cities such as London.

Prices of new build properties have reduced by -7% as price inflation has eased and housing market activity is subdued across the country.

Property price growth in London have reduced and is now 3.7% over the year in contrast to a rise in prices on average in the country.

Growth in house prices is at the lowest rate since May 2013 and more than halving over the year with no growth in the last month.

The rate of house price growth has reduced to 6.2% in a year even though moderate UK demand continues to exceed supply.

House prices outpace homeowner earnings in 119 local areas over past two years with majority located in the southern England.

Hometrack data shows London with the slowest rate of growth for four years and the fastest house price rise is now from regional cities.