Friday, Jul 18, 2008
Middle Britain will be hit harder by falling house prices than the rest of the country, research shows. warned that the fall in prices could be worse than the Great Depression.
mail: Middle classes worst hit by housing slump
Middle Britain will be hit harder by falling house prices than the rest of the country, research shows.
It warns that on average almost £40,000, or more than £100 a day, will be wiped off the value of these homes this year.
typical Middle Britain property will fall 18 per cent between January and December, according to the insurance firm AXA and the Centre for Economics and Business Research.
The research comes as Michael Saunders, economist at the investment bank Citigroup, warned that the fall in prices could be worse than the Great Depression.
Posted by big chris @ 04:15 AM (178 views) Add Comment
2 Comments
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1. str 2007 said...
Well I don't know what part of middle Britain this article refers to but £216,000 for a house with an income of between 40 and 100k seems incredibly low.
In most reasonable areas of the South East 'where that kind of money is achievable' the cheapest family house must be starting with a 3 and most with a 4 or 5. Therefore do they have nice family houses for under 100k in the rest of the country ?
Further it's the cheaper houses that will fall the most as they include flats etc. which will get hit by about a 50% fall.
So to conclude - I don't believe this article.;
2. nooneo said...
str 2007.
"So to conclude - I don't believe this article.;"
I could have told you that. It's in the daily maul!