Search engine Home has revealed property investment black spots where house prices are falling.

In some of the worst performing areas, prices are falling by more than 7% per year.

Landlords’ return on investment is also looking iffy where the value of the property depreciates by more than the annual rent.

Prime London boroughs feature prominently in the list, with Belgravia, Soho and Westminster all featuring.

Wealthy Poole’s property market has also cooled, says Home.

Other places that suggest buy-to-let has not been the greatest investment if you bought, say, a year ago, include Margate where property prices fell by 6% and the real yield was minus 2.1% in September.

Property price falls in the 12 months to September have also been recorded in Newcastle upon Tyne, South Shields, Gateshead, Middlesbrough, North Shields, Hartlepool and Stockton on Tees.

Home director Doug Shephard said: “Price falls in super-rich central London have come about for very different reasons to the falls observed in the north.

“Prices soared in central London post-financial crisis as foreign investors sought safe haven investments.

“Such was the demand for this type of premium property that prices overheated, reaching a peak last year, and are now in the throes of the painful process of market correction.

“By contrast, Hartlepool home prices fell hard following the financial crisis and price recovery has been elusive. In fact, price erosion continues in many such locations where supply seemingly continues to outweigh demand.”