House prices dropped more than average for the East Midlands in North West Leicestershire in February, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 0.6 per cent annual decline .

The average North West Leicestershire house price in February was £202,934.52, Land Registry figures show – a 3.5 per cent decrease on January.

Over the month, the picture was worse than that across the East Midlands, where prices decreased 1.5 per cent , and North West Leicestershire underperformed compared to the 0.62 per cent drop for the UK as a whole.

Over the last year, the average sale price of property in North West Leicestershire remained level – putting the area 30th among the East Midlands' 40 local authorities for annual growth.

The best annual growth in the region was in Leicester, where properties increased on average by 8.15 per cent, to £182,000. At the other end of the scale, properties in West Lindsey dropped 6.8 per cent in value, giving an average price of £157,000.

Winners and Losers

Owners of terraced houses fared worst in North West Leicestershire in February – they dropped 3.6 per cent in price, to £145,760.07 on average . But over the last year, prices rose by 0.09 per cent.

Among other types of property:

• Detached: down 3.5 per cent monthly; down 1.1 per cent annually; £280,017.73 average
• Semi-detached: down 3.6 per cent monthly; up 0.06 per cent annually; £178,084.11 average
• Flats: down 3.2 per cent monthly; down 1.9 per cent annually; £115,443.45 average

First steps on the property ladder

First-time buyers in North West Leicestershire spent an average of £168,060 on their property – £780 less than a year ago, and £29,290 more than in February 2015.

By comparison, former owner-occupiers paid £ 227,230 on average in February – 35.2 per cent more than first-time buyers.

How do property prices in North West Leicestershire compare?

Buyers paid 5.6 per cent more than the average price in the East Midlands (£192,000) in February for a property in North West Leicestershire. Across the East Midlands, property prices are lower than those across the UK, where the average cost £230,000.

The most expensive properties in the East Midlands were in Rutland – £310,000 on average, and 1.5 times as much as in North West Leicestershire.

Rutland properties cost 2.4 times as much as homes in Bolsover (£130,000 average), at the other end of the scale.

Factfile

Average property price in February

• North West Leicestershire: £202,934.52
• The East Midlands: £192,244.08
• UK: £230,331.55
• Annual growth to February
• North West Leicestershire: -0.6 per cent
• The East Midlands: +0.7 per cent
• UK: +1.1 per cent

Best and worst annual growth in the East Midlands

• Leicester: +8.2 per cent
• West Lindsey: -6.8 per cent