FT.Com: House price inflation slows to near zero House prices in England and Wales fell for the sixth month in a row in August, according to the FT house price index, the most reliable guide to the prices achieved by sellers in the property market, published on Friday. After another small monthly drop of 0.1 per cent last month, the annual rate of house price inflation has declined from 15.2 per cent in August 2004 to 3 per cent.