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The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 2.2% annual decline.

The average Aylesbury Vale house price in February was £318,168.99, Land Registry figures show – a 0.4% decrease on January.

Over the month, the picture was similar to that across the South East, where prices decreased 0.4%, and Aylesbury Vale outperformed the 0.62% drop for the UK as a whole.

Over the last year, the average sale price of property in Aylesbury Vale remained level – putting the area 56th among the South East’s 67 local authorities for annual growth.

The best annual growth in the region was in East Hampshire, where properties increased on average by 4.75%, to £376,000. At the other end of the scale, properties in Lewes dropped 4.1% in value, giving an average price of £318,000.

Winners and Losers:

Owners of semi-detached houses fared worst in Aylesbury Vale in February – they dropped 0.5% in price, to £323,648.37 on average. Over the last year, prices dropped by 1.8%.

Among other types of property:

Detached: down 0.4% monthly; down 2.4% annually; £535,793.44 average

Terraced: down 0.3% monthly; down 1.4% annually; £264,904.32 average

Flats: down 0.1% monthly; down 4.0% annually; £179,045.78 average

First steps on the property ladder

First-time buyers in Aylesbury Vale spent an average of £254,000 on their property – £6,400 less than a year ago, and £42,300 more than in February 2015.

By comparison, former owner-occupiers paid £367,000 on average in February – 44.5% more than first-time buyers.

How do property prices in Aylesbury Vale compare?

Buyers paid 1.0% less than the average price in the South East (£321,000) in February for a property in Aylesbury Vale. Across the South East, property prices are high compared to those across the UK, where the average cost £230,000.

The most expensive properties in the South East were in Elmbridge – £594,000 on average, and 1.9 times as much as in Aylesbury Vale. Elmbridge properties cost 2.9 times as much as homes in Southampton (£203,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average February sale price of £1.3 million could buy 15 properties in Burnley (average £85,000).

Factfile

Average property price in February

Aylesbury Vale: £318,168.99

The South East: £321,329.36

UK: £230,331.55

Annual growth to February

Aylesbury Vale: -2.2%

The South East: +0.4%

UK: +1.1%

Best and worst annual growth in the South East

East Hampshire: +4.8%

Lewes: -4.1%

Aylesbury Vale house prices dropped slightly in February