Business Insider article UK house prices are down more than 2.5% in the past three months and have hit a record low, according to data released on Monday.
The figures come amid sharp falls in retail sales, with the biggest drop recorded in December.
The data, from the Office for National Statistics, comes just days after the Office of National Statistics said the consumer price index had fallen to a record 1.8%, down from 1.9% in November.
The ONS said the fall in prices was driven by the fall of 0.2% in December and 1.2%, a 1.1% fall in January.
This comes despite a slight rebound in January and a 2.1%, which is still well below the 2.9%, the agency said.
It also said the price of goods, excluding housing, rose 1.3% in January, the weakest rate in more than three years.
The biggest fall was in the capital city of London, where prices fell 6.6% in a year.
The UK government is yet to comment on the figures.
UK inflation has risen to 2% in 2017, with annualised rate growth of 2.2%.
It is the lowest in nearly four years.
But the ONS says there has been a further increase in household spending in the last two months.
The consumer price inflation rate in the UK has also fallen to 1.7% from 1% in May, after falling to 1% the previous month.