House price inflation peaked in June , with the market slowing ever since, the November FT house price index shows. Half of the regional markets in England and Wales have experienced falling house prices since the June peak.

VIDEO: Cooling prices

Chris Giles on confirmation of slowing house price inflation

In October, house prices were 8.9 per cent higher than a year earlier, a fall in the inflation rate from 9.2 per cent in September and a high of 10.1 per cent in June. The annualised rate of growth over the past three months is even lower at 6.1 per cent, suggesting house price inflation will continue on a downward path.