The majority of regions in England and Wales saw house prices fall in June compared with May, according to the Land Registry.
Alexander Gosling, managing director of online estate agents Housesimple.co.uk, said: "It's not exactly a slump, but while the country basks in some gloriously hot weather, the heat does appear to have gone out of the property market.
"Summer months are historically slower for property transactions with millions of families heading off on holiday, but we've not seen a noticeable drop off in enquiries and transaction levels.
"However, with the Mortgage Market Review, rate rises to come and wage growth still proving negligible, there is every reason to expect more conservative price growth in the months ahead.
"I think London buyers in particular have reached a point where enough is enough. Silly season couldn't go on forever."
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