The key statistics are:
UK house prices were 11.5 per cent lower than in January 2008.
The mix-adjusted average house price in the UK stood at £195,724 in January 2009 (not seasonally adjusted).
UK house prices fell by 3.9 per cent in the quarter ending January 2009. This compares with a fall of 5.2 per cent for the quarter ending October 2008.
Annual average house prices fell in England (-11.8 per cent), Wales (-10.4 per cent), Scotland (-6.3 per cent) and Northern Ireland (-14.3 per cent).
Annual average house prices paid by first time buyers in January 2009 were 15.4 per cent lower than a year ago. By comparison average house prices paid by former owner occupiers were 10.0 per cent lower.
EDITORS NOTE
Further statistics on the Government website indicate that houses were 20-25% down in January from their peak in mid 2007.
