It's a big one - 1.6% - and you can't argue with it, because the DCLG figure is based on completions. It leaves annual house price inflation at 6.7%. Interestingly - although not without precedent - flats led the falls (-2.9%), bungalows were least affected (-0.6%). Inevitably there was regional variation, too. In London, the annual inflation rate is up at 9.5%. Something scary's definitely happening in Northern Ireland's recently over-heated market, with the annual inflation figure falling from 8.4% in December to just 3.7%.

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