Friday, Jul 09, 2010
Avg house lost £1100 last month
Mirror Online: Tory spending cuts hit house prices
The ConDems' savage spending cuts will trigger a second house price crash next year, warn experts.
Spiralling taxes and a cull of public sector jobs are expected to blow a hole in the housing market.
The slump has already begun. The Halifax said yesterday prices fell 0.6% in June - the fourth dip this year.
Last month's drop slashed the value of the average home by almost £1,100.
That takes the national average to £166,203, with nearly £3,300 wiped off the value since the start of the year.
Although prices are still 6.3% up on last year, Halifax predicts that further falls in the coming months will mean they end 2010 unchanged.
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