The average UK house price fell by around £4,000 in the 12 months to December 2023, according to official figures.
The Office for National Statistics (ONS) show that property values fell annually by 2.1 percent in England and by 2.5 percent in Wales.
House prices increased annually by 3.3 percent in Scotland and by 1.4 percent in Northern Ireland.
Within England, house prices in the North West recorded the highest annual percentage increase over the 12 months to December 2023 (1.2 percent), while London had the biggest fall in house prices (falling by 4.8 percent).
The average house price was £285,000, down £4,000 in a year, and the average London prices were £508,000, down 4.8 percent in a year.
The West Midlands was the only other English region to record an annual increase in house prices, at 0.3 percent.
Aimee North, head of housing market indices at the ONS, said: “Our initial estimate of UK house prices shows another annual fall in December, however, the pace of decrease has slowed since the previous month.
“Our latest figures also show a return to annual price growth for two English regions: the North West and West Midlands.
“Meanwhile the annual rise in UK private rental prices remains unchanged at a record-high level for the second consecutive month.”
