House prices in Oxfordshire have fallen for the fifth month in a row — but are still sliding less fast than in many other parts of the country.

Values across the county fell 0.1 per cent in February compared with the previous month, but are still up 0.4 per cent on the same month last year, according to figures released by the Land Registry.

Nationally, month-on-month prices fell 0.8 per cent in February and are down 1.7 per cent year-on-year.

The average price of an Oxfordshire home is now £234,846 compared with a national figure of £162,215 In September, Oxfordshire house prices reached a high for the year since February 2010 of £241,191, but have slipped back since.

Gavin West, of Summertown estate agents Kemp and Kemp, said: “Volumes of sales remain very low. Our problem is the contraction in supply — even though the demand is there.

“But if you have the right house in the right place it will sell well. I have never known so many agents chasing the same properties.”