House prices in Caerphilly County Borough fell by 5.3% in 2011, according to figures from the Land Registry.
The average price of a house in the area is now £98,546 compared to £104,171 in December 2010.
Compared to November 2011, the average represents a fall of 0.5%.
The December data from the Land Registry’s House Price Index shows an overall annual price decrease of 1.3% which takes the average property value in England and Wales to £160,384.
The only region in England and Wales to experience an increase in its average property value over the last 12 months is London with a movement of 2.8%.
The North West experienced the greatest monthly rise with a movement of 1.5 per cent. The North East experienced the greatest annual price fall with a decrease of 7.1 per cent and the most significant monthly price fall with a decrease of 1.9 per cent.
The most up-to-date figures available show that, during October 2011, the number of completed house sales in England and Wales decreased by 6% to 55,309 compared to 58,634 in October 2010. The number of properties sold in England and Wales for over £1 million in October 2011 decreased by 10% to 525 from 582 in October 2010.