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The average home price in Britain fell from $337,906 to $306,882 from March to August, The Daily Mail reported.

By comparison, the average homeowner making $42,000 a year has been losing more on his home value in recent months than he has been making at work.

The figures have added fuel to the debate over British Prime Minister Gordon Brown's $2.8 billion plan to revitalize the housing market, which includes dropping the stamp duty for some modestly priced home sales, The Daily Mail said.

"This is more evidence that this is a short-term political rescue package for Gordon Brown rather than a long-term plan to revive Britain's ailing economy", said Shadow Chief Secretary to the Treasury Philip Hammond.

The double-digit fall in home values over the year was the first recorded in 25 years, the newspaper reported.

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