Some North East homes have had £10,000 wiped of their value in the last year.
Shocking new figures from the Office of National Statistics paint a mixed picture for our region's housing market.
Northumberland house prices slumped by a massive 6.4%, down from £155,179 to £145,233 and declined faster than at any point since later 2011.
In Newcastle, despite high prices in fashionable areas, homeowners saw an average drop of 1%, which works out at around £1,548 in cash terms.
The Sunderland property market has also contracted, but only by 0.3%.
While the drops might look like good news for buyers hunting for a bargain, it's worrying for sellers trying to cash in.
But other parts of the North East are seeing very different fortunes.
North Tyneside house prices were up 0.2% in the year to May, with County Durham up 1.6%.
Gateshead was up 5.3% but the happiest house-sellers were in South Tyneside , where properties have gone up by a massive 6.2% in value in 12 months.
Since June 2016, there has been a general slowdown in UK house price growth, driven mainly by stagnant or falling prices in the south and east of England.
Average house prices in the UK increased by 1.2% in the year to May 2019. The rate of increase dropped from 1.5% in April 2019.
The average UK house price was £229,000 in May 2019.
The worst performance of any region overall was in London, where prices fell by 4.4% over the year to May 2019.
