British house prices slumped by a record 14.9% in the three months to November compared to a year earlier.
Prices also fell 2.6% on a monthly basis from October to November, cutting the average price of a house to £163,605, said Halifax, which is part of British bank HBOS.
The annual figure was the largest drop since the series was launched in 1983, while the monthly decline was the biggest since September 1992.
Despite recent sharp house-price falls, the average home costs 124% more than ten years ago, when it was worth just £73,129, the bank added.
Meanwhile, sales of new cars in Britain plunged at the fastest rate - 36.8% - for more than 28 years during November.
Overall, 100,333 new cars were registered in November, according to the Society of Motor Manufacturers and Traders, a decline of 36.8% compared with the same month a year earlier.
The data represented the biggest year-on-year decline in new car sales since June 1980.
In the year to date, 2.02 million new cars have been sold in Britain, a 10.7% drop compared with the same period in 2007.
