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Property values continuing to fall in the North East

An aerial view of houses in Newcastle Credit: Owen Humphreys/PA Archive/Press Association Images

The only region across the country to see property values fall year-on-year was the North East, where they edged down by 0.1% to £97,596 on average, according to the Land Registry.

At a local authority level, Hartlepool saw the biggest annual price fall across the country, with a 6.6% drop taking average prices to £70,350.

Across England and Wales, property prices grew by 4.4% in the 12 months to December to reach £167,353 typically, which is also 1.1% higher than in November.