AVERAGE home values in parts of Winchester have plummeted 18 per cent over the last year.

Figures published by house prices website Zoopla.co.uk have revealed average property values in addresses in the area of SO21 postcode have dropped nearly £80,000 to £355,000, in just 12 months.

Church Lane in Twyford is the most expensive street in the Winchester district but even that has seen values drop by £371,000 to £1.24m.

The website's property rich list for Hampshire shows the SO42 area of Brockenhurst is the most affluent, with average values hitting £500,000. Second was Stockbridge SO20 (£412,000), third Lyndhurst SO43, followed by Winchester SO21.

The most expensive street in Hampshire is Dock Lane, Brockenhurst, which recorded average property values of £1.63m. But this figure has dropped 20 per cent in the last year.

Alex Chesterman, of Zoopla.co.uk, said: "Despite the current economic climate much of the country's wealth remains tied up in the property market and while average house prices are down across the board on last year, there still remain some pretty eye-watering numbers in this year's Property Rich List."