House price falls have been recorded in London, the South East and the North East according to data from LSL Property Services, analysing the market in England and Wales.
However, the average house price remains above £300,000 for the 13th month running - coming in at £301,477 last month.
LSL says the move into negative territory in annual price growth reflects the continuing struggles of the capital, where prices have been falling for some time.
This trend can now be seen in two other regions – the South East and the North East, with average annual prices down 0.2 per cent and 0.7 per cent respectively.
London, with a 4.3 per cent annual fall, weighs heavily on the overall average figures.
The South West (up 3.9 per cent) and North West (up 3.8 per cent) lead the table for growth, with other areas up between 2.3 per cent and 2.6 per cent, apart from Yorkshire & Humberside where prices are up a more modest 1.4 per cent annually.
In its regional analysis of December data, LSL says nearly three quarters of England and Wales’ 108 unitary authorities outside London were still recording annual price rises.
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Good a correction back to normal prices and end of property speculation
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