House prices rose in February at the slowest rate since September 2012 while in London house prices fell, the Office for National Statistics said.
Average house prices increased by 0.6% in the year to February 2019 but fell by 3.8% in London.
The ONS said inflation was stable at 1.9% in March as a rise in fuel prices from February was offset by falls in food prices.
The figures ease pressure on the Bank of England to raise interest rates.
The Bank of England targets inflation - the rate of price increases - at 2%.
The ONS said there had been a slowdown in house price growth over the past two years.
The average UK house price was £226,000 in February, £1,000 higher than a year ago.
The fall in London house prices was the largest fall since mid-2009, but the city remains the most expensive place to buy property with an average price of £460,000.
Ben Brettell, senior economist at Hargreaves Lansdown, said the fall in London house prices was the largest since the immediate aftermath of the financial crisis.
"This follows efforts by policymakers to cut down on riskier mortgage lending, though clearly uncertainty over Brexit will have played a large part in the capital's faltering housing market," he said.
The overall inflation rate, measured by the Consumer Price Index, was lower than the 2% that had been forecast by economists.
Inflation in the games, toys and hobby sector fell to 1.1% in March from 3.1% in February helping to keep a lid on the overall basket of prices, economists said.
Mr Brettell said the inflation number made the Bank of England's job easier "as there's no pressure to raise rates as it grapples with continued uncertainty over Brexit".
Howard Archer, economic adviser to the EY Item Club of forecasts said it was "decent news for both consumers and the Bank of England".
"This is helpful news for consumer purchasing power and facilitates the Bank of England keeping interest rates unchanged at 0.75% as Brexit uncertainties are extended," Mr Archer said.
Data on Tuesday had shown that the average weekly earnings, excluding bonuses, rose 3.4% in the three months to February while the unemployment rate of 3.9% is lower than at any time since the end of 1975.
But economists say that prices could start to rise, and wage growth start to slow, in the months ahead.
Prices could start to rise because household energy prices are due to rise in April when energy regulator Ofgem increases its price cap by 10% and Mr Archer said it was "questionable" whether earnings growth can continue as the growth in wages dipped to a five-month low of 3.2% in the month of February.
While he does not rule out the Monetary Policy Committee raising rates over the summer, Mr Archer said: "Despite a tight labour market, it is difficult to see the Bank of England raising interest rates at their May meeting or any time soon, amid likely MPC concern that prolonged Brexit uncertainties will likely to weigh down on the economy".
Article published by BBC - 17 April 2019