The number of new buyers registering with the agents was down 9.9 percent in January from the previous month, while the number of properties listed for sale fell 6.8 percent, according to a survey by the online property agent Hometrack.

House prices in England and Wales remained flat from December, though the prices were on decline for the past six months. Prices fell by 0.1% in Wales, Yorkshire and Humberside and the North East. In East Anglia, prices were down by 0.2%.  

“Fears over Europe, the economic outlook, the impact of austerity, lower incomes growth and mortgage availability have, over the last two years, weighed heavily on demand and kept pricing under general downward pressure,” said Richard Donnell, director of research at London-based Hometrack in a statement.