The website found that the average price was down £7,772 (-3.3%) month-to-month across the two countries. The biggest monthly falls came in the South West region where prices plummeted 5.3% while the West Midlands (-4.9%) and Greater London (-4.0%) areas also saw large falls.

The East Midlands was the only area of the country to post positive figures, with asking prices rising 0.8% during the month.

Compared to December 2011, asking prices have fallen across much of England and Wales. East Midlands, East Anglia and Greater London were the only areas to post increases in 2012.

Rightmove said it anticipates a 2% rise in prices during 2013, with the majority of the growth driven by London.

It said prices would remain largely flat across northern regions although added that the average gap between final asking price and sold price tightened to 3.7% in 2012, a fall from 4.9% in 2011.