Two-bedroom flats and houses saw the biggest drops over the 12 months leading up to December.
Over the last five years, only two-bedroom flats have actually increased in value – everything else has dropped.
The figures also recorded that properties designated for first-time buyers sold at their lowest average prices for years. First-time buyer flats sold for an average of just under £250,000 while first-time buyer houses sold for around £420,000.
The House Price Index records turnover, or the number of transactions that take place each quarter. The report for the end of December showed a 3% drop in overall transactions, although it says that business picked up in the last six months of the year.
The Statistics Unit’s figures showed that:
One-bedroom flats cost an average of £210,000 (up £5,000 on 2012).
Two-bedroom flats cost an average of £332,000 (down £10,000 on 2012).
Two-bedroom houses cost an average of £375,000 (down £16,000 on 2012).
Three-bedroom houses cost an average of £484,000 (down £3,000 on 2012).
Four-bedroom houses cost an average of £674,000 (up £3,000 on 2012).