UK house prices fell back in June to a national average of £165,738, according to the latest Nationwide house price index.
The lender reports that prices fell by 0.6% month-on-month from a yearly high of £166,022 in May.
June's figures were also down 1.5% on the same period last year. The report attributes the slump to first-time buyers moving their house purchases forward in the year to beat the stamp duty deadline.
Robert Gardner, Nationwide's chief economist, commented: "The slightly weaker trend we've observed since March is unsurprising, given the difficult economic backdrop, with the UK economy dipping back into recession at the start of the year and few signs of a near-term rebound.
"Part of the weakness in house prices may also relate to the ending of the stamp duty holiday in March, which provided a temporary boost in early 2012, as buyers brought forward purchases that would otherwise have taken place later in the year.
"Moreover, the supply side of the market is still constrained, with construction failing to keep pace with the number of new households being formed.
"Overall, this suggests a continuation of the pattern experienced over the past two years, with prices remaining fairly stable over the next twelve months."
Russell Quirk, founder of online estate agent eMoov.co.uk, added: "With the economy back in recession, confidence low and the Eurozone on the brink, it's no surprise that house prices remain under pressure. On an annual basis, we're back to the bad old days of 2009.
"The property market remains erratic and low transaction levels could see prices jump again next month. It's anyone's guess.
"As for policymakers providing support, the jury is out. We've had all kinds of schemes over the past few years, none of which has made any material difference to credit availability. Why should we believe them this time around?
"Homeowners shouldn't hold their breath on prices, as we're in it for the long haul."