The January index from the Land Registry shows an annual price rise of 5.2%, the second consecutive month in which the annual figure has been positive.

The data continues to highlight significant regional variations in price performance with London very much at the top end. The same seven out of the ten regions in England and Wales experienced increases in their average property values over the last month and the last 12 months.

Only the Northwest, Yorkshire & The Humber and the North East posted monthly and annual falls.

London experienced the greatest monthly rise with a movement of 3.9% and the highest annual price change with an increase of 10.5%

The Northeast was the region with the most significant monthly fall with a reduction of -1.3%. It also had the highest annual price fall with a drop of -3.4%.

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Transaction volumes averaged 57,722 per month from August to November 2009, a rise from 42,523 during the same months the year before.