Housing transactions have slumped by a third as buyers struggle to secure mortgages and house prices slip, official figures show.

Nearly 72,500 sales were completed on average each month between November 2007 and February 2008, sharply down from a monthly average of 103,141 in the same period 12 months ago, figures from the Land Registry show.

These figures are closely watched by policymakers and industry experts as they reflect the number of actual sales registered with the authorities, rather than just asking prices. Each house sale in the UK must be registered with the Land Registry within two months of completion.

Sales of houses worth between £100,000 and £150,000 in England and Wales fell by a third in February, compared to February last year, while sales of properties worth between £150,000 and £200,000 fell by nearly 40 per cent. Sales at the top end of the market also slumped, with transactions of properties worth between £1.5 million and £2 million falling by 28 per cent.

House prices slid by 0.2 per cent on average in April, slowing the annual rate of house price growth to 2.7 per cent, down from 3.6 per cent in March. It is the eighth consecutive monthly fall in house price growth.

The price of an average house fell by £400 in April to £183,626, down from £184,027 in March, the Land Registry said. Detached homes were the worst affected, with nearly £2,500 being wiped off the price. The average price of a detached house is now £275,746, down from £278,355 in March.

However, some areas of the UK are still experiencing growth in average prices. Over the last month, property prices rose in the South East (0.5 per cent) North East (0.4 per cent), South West (0.2 per cent), East (0.2 per cent) and North West (0.1 per cent).

But prices slumped by 1.2 per cent in the West Midlands, 1 per cent in Wales and 0.7 per cent in the East Midlands. London prices dipped by 0.5 per cent and properties in Yorkshire and the Humber fell by 0.4 per cent.