Monthly house prices in UK fell 0.3% in the month of February, the Land Registry said on Friday. This was reported as the first decline in average house prices in past 10 months.

While comparing on a year-on-year basis, the house prices were reported up by 7% in the month of February. On annual basis, this was reported the fourth month in a row when house prices reportedly increased.

The February data from Land Registry's flagship House Price Index showed that the average house prices were reported of £164455 in the month of February. The house prices in February were reported declined mainly due to the end of the stamp duty holiday. While in the month of January, house prices grew by 2.1% on monthly basis.

In the month of February, nine regions in England and Wales reported an increase in monthly house prices. London region reported the highest growth as the average prices in this region increased by 11.9% compared to the same month last year. North East region reported a decline of 2.3% which was the highest decline among all regions.

On monthly basis, the North West region reported the highest increase in the month of February with a growth of 3.6%. On the other hand Wales region was the region with the highest decline. Wales saw a decline of 2.4% in monthly house prices.