House prices in England and Wales fell by 8% last month to prices last seen in autumn 2006, according to the latest figures from Land Registry.
It said the average house price is now £168,814 which is also a decrease month-on-month of 2.2%
London has experienced a decrease in its average property value over the last 12 months, with a movement of -1.5%, taking the average London house price to £328,927.
Hartlepool again experienced the highest annual change with an increase of 4.7%, taking its average property price to £115,018.
The most up-to-date figures available show that during July 2008 the number of completed house sales fell by 57% to 49,784 from 116,751 in July 2007.
For more information and to view the latest statistical release visit http://www1.landregistry.gov.uk/houseprices