'Tough year ahead for housing market'

A rise in house prices in England and Wales of 1.7% recorded by the Land Registry represents a real-terms fall when inflation was taken into account according to housing expert Henry Pryor.

The figures for 2012 produced by the Land Registry clash with other data surveys by the Halifax and Nationwide which both indicated a fall in house prices.

Mr Pryor told BBC News that the figures were also heavily influenced by a buoyant London market, and there were large falls in other regions.

BBC News