Monday, Apr 28, 2008
House prices to fall to 2004 levels this year alone
Reuters: Are you facing a capital loss on your home?
Finance website Fool.co.uk expects property prices to tumble 20 percent this year, taking the average British property value to £153,400 from £196,000 -- the same level as spring 2004 levels.
That means that, on average, people who have bought since then will be sitting on a capital loss. Not all, however, will face negative equity, as some will have taken out a mortgage of less than 100 percent or more of the purchase price.
Posted by little professor @ 09:44 AM (218 views) Add Comment
1 Comment
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1. Andyrich29 said...
20% excessive taking "official" figures.