House prices fell 0.8% in June to January 2010 levels but transactions rose 20%, according to the latest LSL Property Services/Acadametrics House Price Index.

The average price of a home in England & Wales at the end of June now stands at £219,365, a level last seen in January 2010 and a -0.8% reduction on May.

Dr Peter Williams, housing market specialist and Chairman of Acadametrics, said: “The modest gains in house prices over the last 18 months have therefore disappeared