The average price of a home in England & Wales increased by only £20, to £223,971, from the end of April to the end of May, according to the latest LSL/Acadametrics House Price Index.

This is the fourth month out of the last 12 in which the monthly growth rate has been nil, which Academetrics says shows stability in the national housing market, as a whole.

It says homes are becoming cheaper relative to prices and incomes, as since April 2007 house prices are up 1% but wages are up 13.7%.

Dr Peter Williams , housing market specialist and chairman of Acadametrics, said: “The national average hides a very variable pattern of price rises and price falls across regions and local authority areas. It is these price changes at local market level which express reality for those interested in the price of individual properties in specific areas.