September represents the 13th month of 'house price decline'

New figures have revealed that September experienced the 13th successive monthly drop in house prices.

The Chesterton CEBR House Price Poll of Polls revealed an annual price drop of 5.9 per cent in the past year.

Last month saw a 1.2 per cent monthly drop in house prices in England and Wales to £184,333.

This drop occurred across all UK regions, with the largest fall experienced in the south of England.

Over the past 12 months, the largest price drops have taken place in the Midlands, with the East and West Midlands experiencing a decline in prices of 6.1 per cent and 6.3 per cent respectively.

Robert Bartlett, chief executive officer of Chesterton, said: "Despite the scarcity of committed sellers, prospective buyers are coming back into the market as there is real value to be had in almost all areas."

He added prices have fallen in traditionally expensive areas, such as Kensington & Chelsea, though there is unlikely to be a massive fall in premium areas.

Earlier this week, the Royal Institution of Chartered Surveyors said new build home numbers could drop to less than 100,000 in 2009.