Monthly house prices in England and Wales fell by 2% in December, according to the latest figures from Land Registry.
The average house price is now £158,946 representing an annual decrease of 13.5%. Every region in England and Wales experienced an annual decrease in its average property value. All regions also sustained a monthly decrease except Wales, which bucked the trend with a 1.7% rise, and the north east, which underwent no change.
In the south west, prices fell 3.1% over the month and 15.6% over the year. The average price of a house in the south west is above the national average at £165,418.