House prices in England and Wales fell between January and February by 2%, according to official figures from the Land Registry.

It is the eighteenth-straight month of property price drops. The average house price is now £153,862, which is 16.5% down on the same period last year.

In the North West, there was a monthly drop of 4.1%, the highest in the country. In London, the average price fell 15.6% over the year to £298,563.

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House price drops