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A dip of 0.3 per cent took the average price of a property in England and Wales to £164,455.
According to Reuters, this was the first monthly fall since April 2009, however the year-on-year difference was still higher, with prices up seven per cent compared to February 2009.
London saw the biggest increase over the 12-month period with a 11.9 per cent jump in value and another eight regions in England and Wales experienced a yearly climb.
The north-east had the largest fall, with prices moving down by 2.3 per cent over the year.
Simon Rubinsohn of the Royal Institution of Chartered Surveyors said the results, which may be of interest to those trading on the stock market, were "broadly consistent with most other reports of the behaviour of house prices last month".
Posted by Clive Arneil
