The slide in house prices, which began as long ago as 2007, shows no signs of abating, according to two new surveys.

The Nationwide House Price Index recorded its 15th straight monthly fall after prices slid 1.3 per cent in January, while the UK Land Registry’s House Price Index for December recorded a drop of 2.0 per cent. The Land Registry also revised the drop in November to 2.1 per cent from an estimated 1.9 per cent.