West Midlands house-prices were still rising in the early months of this year, but the fizz has gone out of the boom.
According to Nationwide building society the average price for a home in the region during the first quarter of 2005, rose to £149,575, an increase of 1.085 per cent over the final three months of last year - equivalent to six per cent over a whole year.
This fell way short of last year's runaway housing market, so the region's house-price inflation year-on-year fell back to 11 per cent from 13.2 per cent in fourth quarter of 2004.
Across the whole UK, the drop was sharper. House-price inflation fell to 9.9 per cent from 14.8 per cent.
In London and the Southeast - and marginally in the East Midlands - house prices fell between the two quarters.
First-time buyers, in the West Midlands, paid an average of £116,851 and former owner-occupiers £172,047.
The popularity of bungalows in the region continued unabated. They sold for an average of £187,030, 24.1 per cent more than in the first three months of last year.
Flats are 11.4 per cent dearer year-on-year at an average of £106,742. But the pace at which their price his rising has slacked off markedly.
One significant change, since the turn of the year, is that detached houses - which lagged the region's market through 2004 - have now become slightly more popular than semi-detached and terraced homes.
Their average price of £214,123 is 10.7 per cent higher over the year, while semis have risen 9.9 per cent to £141,850 and terraced houses by 9.4 per cent to £118,424.
Nationally, Nationwide said house prices fell by a seasonally adjust 0.6 per cent between February and March, the first such decline since June, 1995.
Without seasonal adjustment, the average price was still rising - by 0.65 per cent or £1,000 to £153,876.
Over the latest 12 months, the UK's house-price inflation has fallen back to 7.9 per cent from 10.2 per cent in February.
Despite signs that housing- market activity slowed in January, Nationwide's economist Alex Bannister expects the number of mortgage approvals to have picked up again in March.
"We believe that homeowners and buyers are becoming increasingly realistic about the potential for further house-price growth," Mr Bannister added.