Price of London homes 'falling by £1,000 a week'
House prices have fallen by an average of nearly £45 a day since the
beginning of the year, figures showed today.
Properties in Wiltshire have suffered daily slides of only £5.35 while the average value of a home in the UK has dropped by £44.39 a day or
£310.73 a week so far during 2008 as the property market slows in the
face of stretched affordability and the problems in the mortgage market
caused by the credit crunch.
The pace of the falls has accelerated during the past 30 days, with
homes seeing an average of £55.40 a day knocked off their value during
this period, according to property valuation website Zoopla.co.uk.
Overall, the group said the average price of a home in the UK had fallen
from £224,046 at the beginning of January to £218,764 on April 28.
People in London, where property prices are highest, have been the
biggest losers, seeing an average of £133.58 a day or nearly £1,000 a
week wiped off the value of their home.
Homeowners in Surrey have seen the second biggest falls of £96.41 a day
on average, followed by those in the Isle of Wight at £96.12 a day.
Properties in Berkshire and Oxfordshire have seen seen falls of more
than £90 a day, while homes in Devon and Middlesex have seen ones of
more than £80 a day.
At the other end of the scale, homes in Hertfordshire have been affected
the least by the downturn, seeing an average of just £5.25 knocked off
their value on a daily basis.
Properties in Wiltshire have suffered daily slides of only £5.35 and
homes in Cambridgeshire have seen £9.12 knocked off prices every day
this year.
Unsurprisingly, detached homes have seen the biggest price falls, losing
an average of £71.68 a day during the past 30 days, but flats in England
have actually seen their prices rise by an average of £2.84 a day since
the beginning of the year after suffering price falls towards the end of
2007.
The research was based on Zoopla's own data, which calculates house
prices using an algorithm that takes into account house prices, economic
trends and property characteristics in given geographic areas.
1:47pm Tuesday 29th April 2008
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CommentPosted by: pachyderm on 8:36pm Tue 29 Apr 08
[quote]Price of London homes 'falling by £1,000 a week'[/quote]
Lies,**** lies & statistics??
At that rate, I should be able to afford a home in 5 years time.
If I wait 20 years, the £1m home I have my eye on will be given away in cornflake packets !! (guess these will cost £1m by then)
Price of London homes 'falling by £1,000 a week'
Lies,**** lies & statistics??
At that rate, I should be able to afford a home in 5 years time.
If I wait 20 years, the £1m home I have my eye on will be given away in cornflake packets !! (guess these will cost £1m by then)
Posted by: pachyderm, naughty corner on 8:38pm Tue 29 Apr 08
oooppps... **** was only d A m N
oooppps... **** was only d A m N
Posted by: Don, Devizes on 12:41pm Wed 30 Apr 08
Thanks for explaining this. I was wondering how ****, **** or **** would have fitted in there.
Thanks for explaining this. I was wondering how ****, **** or **** would have fitted in there.
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