The asking prices for homes on sale in the UK have plunged in the largest fall month-on-month, while London properties have lost £30,000 in December.
According to property website Rightmove's House Price Index, December showed a 3.3% drop in asking prices for properties in the UK, resulting in an average of £258,424 (€406,692, $405,907) per home.
In London, the average asking price fell 5.1% month-on-month to £570,796 in December, from £601,180.
However, despite the slowdown, Rightmove predicts that asking prices will rise again in 2015 as property prices have jumped 7% on average in 2014.
According to data from the Office for National Statistics, annual house price inflation was 12.5% in England, 5.8% in Wales, 7.6% in Scotland and 10.9% in Northern Ireland.
The average UK house price in September 2014 stood at £273,000 as compared to £274,000 in August.
A regional breakdown shows that the average property price in England stood at £285,000; £172,000 in Wales, £143,000 in Northern Ireland and £197,000 in Scotland.