House prices dropped by 1.4 per cent in Test Valley in February, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 3.5 per cent annual growth.

The average Test Valley house price in February was £342,308, Land Registry figures show – a 1.4 per cent decrease on January.

Over the month, the picture was worse than that across the South East, where prices increased 0.9 per cent, and Test Valley underperformed compared to the UK as a whole, where prices did not change.

Over the last year, the average sale price of property in Test Valley rose by £12,000 – putting the area 60th among the South East’s 70 local authorities for annual growth.

The best annual growth in the region was in Swale, where property prices increased on average by 17.9 per cent, to £286,000. At the other end of the scale, properties in Folkestone and Hythe gained 0.4 per cent in value, giving an average price of £265,000.

Meanwhile, house prices increased slightly, by 0.4 per cent, in Hampshire in February.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 6.2 per cent annual growth.

The average Hampshire house price in February was £332,226 – a 0.4 per cent increase on January.

Over the last year, the average sale price of property in Hampshire rose by £19,000 – putting the area 38th among the South East’s 70 local authorities for annual growth.