House prices rose only fractionally in January because of falls at the top end of the market, according to the property website Hometrack.

London prices continue to fall, especially at the top end of the market John Wriglesworth Housing economist

It said that prices rose by just 0.1% during the month, the same as in December.

And house price growth has been steadily falling since it peaked at 2% in May.

But prices are behaving very differently across the country.

No green shoots

In parts of London and Berkshire there were falls of 0.4% while other areas of the country saw rises, with Derbyshire recording an increase of 0.5%.

The group said it did not expect the market to crash because property remained affordable outside the capital and the South East and because interest rates and employment were still low.

But neither is there any sign of the market picking up.

John Wriglesworth, Hometrack's housing economist said: "The housing market is stagnating and as yet there is no evidence of any green shoots that would indicate a spring recovery.

"London prices continue to fall, especially at the top end of the market."

Catching up

The group said the average rise in the 20 counties that saw the highest price during January was �119,531.

And the average price in the 20 worst performing counties was �180,361, suggesting the slowdown was at the top end of the market.

The Royal Institution of Chartered Surveyors reported earlier this month that price rises had slowed for the third month in a row in December.

And, at the beginning of January, Halifax bank reported that London house prices were slipping while other areas of the country, particularly Yorkshire and Humberside, the Midlands and Wales were enjoying stronger growth.

House price change by region

East Anglia:

Prices rose by 0.1%, taking the average price to �121,000. Homes took five and a half weeks to sell.

South West:

Prices rose by 0.2%, taking the average price to �143,100. Homes took just under five and a half weeks to sell.

East Midlands:

Prices rose by 0.3%, taking the average price to �91,200. Homes took nearly four and a half weeks to sell.

West Midlands:

Prices rose by 0.1%, taking the average price to �101,500. Homes took nearly four weeks to sell.

Yorks & Humber:

Prices rose by 0.1%, taking the average price to �85,800. Homes took nearly four weeks to sell.

Wales:

Prices rose by 0.2%, taking the average price to �86,400. Homes took nearly five weeks to sell.

South East:

Prices rose by 0.1%, taking the average price to �176,200. Homes took just over five weeks to sell.

North West:

Prices rose by 0.1%, taking the average price to �82,200. Homes took five weeks to sell.

Greater London:

Prices fell by 0.1%, taking the average price to �233,200. Homes took just under five weeks to sell.

North:

Prices fell by 0.1%, taking the average price to �77,400. Homes took four and a half weeks to sell.