House price growth slowed for a second consecutive month in February, with just one region beating the rate of inflation.
Data from Your Move shows average prices fell by 0.5% annually last month to £302,435.
This was the same level of annual decline recorded in January.
Prices grew by 0.5% on a monthly basis after two months of zero movement previously.
The fastest growing region in February was Wales, which saw prices grow 3% annually to £188,077.
This compares with the inflation rate of 1.8%.
All other regions either posted annual growth below this rate or registered a decline.
The next fastest growing region was the west midlands, up 1.7% to £227,032.
The largest annual fall was in the south-east of England where prices fell 1.7% to £371,791.
London remained the region with the highest house prices at £622,494, which was down 1.5% annually.
Oliver Blake, managing director of Your Move, said: “Whilst a challenging market, it’s a mixed picture with some regions still experiencing price rises.
“There clearly continues to be demand for property and a need for more homes to come to market.”
By MARC SHOFFMAN
Source: Property Industry Eye