House prices in the West Midlands are on the slide again with values falling in the run-up to Christmas, ending six months of recovery from the recession.
Prices fell 0.6 per cent in December, the second back-to-back fall following six months of stable or rising values.
The average house price in the region stands at £176,132 compared to £177,250 in November.
Annually, prices are now down 3.1 per cent, compared to the 2.7 per cent fall in November.
After four months of rising prices, first-time buyer properties fell by over £500 in December and now stand at an average £118,432.
The trend marks the second fall in prices for the West Midlands following six months of stability and growth, a decline of 0.6 per cent in December.
Having slowed for six months to November the annual decline in house prices increased again to -3.1 per cent from – 2.7 per cent in October.