I have managed to find the reason behind this and create a solution suitable for my needs.
Under screen options on the post edit page is an option called “Custom Fields”. This lists all of the custom meta values that have been saved against the post and allows you to create new ones and edit existing.
When opening the post to edit, the view count at that moment is added to the input field in the Custom Fields section. When i save several minutes later, even though the view count has increased the posted value is still that which was added when opening the edit window.
To fix this i added the following code to my themes functions file to remove the Custom Fields section from the edit window.
<?php
function remove_post_custom_fields() {
remove_meta_box( 'postcustom' , 'post' , 'normal' );
}
add_action( 'admin_menu' , 'remove_post_custom_fields' );
?>