The average UK house price fell by £794 or 0.3% month-on-month in September, according to the latest figures from lender Halifax.
The dip followed a rise of 0.2% in August, Halifax said.
The annual rate of house price growth also eased to 1.3%, from 2% in August, taking the typical property value to £298,184.
Amanda Bryden, head of mortgages at Halifax, said that this slight monthly dip in house prices reflects a housing market that has remained broadly stable, prices are up 0.3% since the start of the year.
"It's also important to remember that prices vary widely depending on characteristics like location and property type. As a result, many homes are available at a cost well below this headline figure," she said.
"For example, for those looking to take their first step on the property ladder, the typical first-time buyer home costs £236,811, up 1.7% year-on-year, with pockets of even greater affordability to be found across different regions," she said.
"While affordability remains a challenge, a relatively lower mortgage rate environment and steady wage growth have helped support buyer confidence. Although the broader economic outlook remains uncertain, with the affordability picture gradually improving, we continue to expect modest growth through the remainder of the year," she added.
Earlier this week, the UK government unveiled plans for a shake-up of the home-buying system, potentially slashing costs for buyers.
Changes could include requiring property sellers and estate agents to provide more information when a home is listed for sale, reducing the need for buyers to carry out searches and surveys.
Binding contracts could also be introduced at an earlier stage, reducing the risk of a chain collapsing.
Alice Haine, a personal finance analyst at Bestinvest by Evelyn Partners, said that "for now" the biggest barrier to home ownership remains affordability "with many first-time buyers still struggling to get on the property ladder".
"That said, the current flatness in the market may offer some relief, particularly if sellers continue to price more realistically and mortgage rates remain stable," she added.
Halifax's latest housing market report is in contrast to a report from Nationwide Building Society last week, which said house price growth had edged up. Nationwide recorded a 0.5% month-on-month increase in September, following a 0.1% monthly fall in August.