U.K. house prices fell 4.6 percent in August

U.K. house prices fell 4.6 percent in August from a year earlier, the most since at least 2000, the Land Registry said today.

From July, the average home value declined 1.9 percent, the registry, which records all property transactions in England and Wales, said in a report in London today. Both readings are the biggest since the Land Registry’s records started in April 2000, the report said.

The declines leave the average cost of a home at 174,493 pounds