Annual house price growth has hit its lowest level for more than five years, according to the Land Registry.

Its House Price Index for October has revealed annual growth was at 2.7%, the lowest rate since July 2013.

The annual figure is down from 3% the previous month, and put the average property price at £231,095.

Prices on a monthly basis were also down 0.2%.

The data would have reflected deals done months before October.

House prices grew fastest in the north-west region, increasing by 4.9% in the year to October, but were down 1.7% in London over the same period.

Transactions across the UK continued to fall, sliding 8.8% annually across the country during August.

However, Scotland and the north-east of England bucked the trend as the only parts of the UK to register an increase in sales, up 9.2% and 1.2% respectively.

Transactions in England fell by the most at 10.8% on a country level, while on a regional basis London saw a 15.8% decline.

The data also showed the extent of the premium being paid on new-build properties.

The average price of a new-build was £301,753 during August, up 10.5% annually, compared with £228,193 for secondhand stock which was up 2.7%.

Commenting on the data, Sam Mitchell, chief executive of Housesimple.com, said: “The Christmas slowdown started a little earlier this year, and buyers and sellers alike are probably feeling a little jaded.

“There is so much uncertainty swirling around right now, and buyers and sellers will be more reluctant to make a decision until they know whether we’re leaving the EU with a deal or no-deal – or if we’re even leaving the EU.

“The property market is reacting to the state of limbo that the country finds itself in, although there are pockets of the country such as the north-west and Yorkshire which seem to be more Brexit-proof than regions such as London and south-east.

“Looking ahead to 2019, it’s likely to be a quiet start to the year, at least until the rescheduled Commons vote takes place.

“Once we have a better idea of our future relationship with the EU, that might inject some confidence into the market.

“At the end of the day, people still need to move house and at least they will have a clearer picture as to what they’re facing down the road.”