Wednesday, November 7, 2007
Property blackspot in the Black Country
BIRMINGHAM families are set to see thousands of pounds wiped off the value of their homes in a new house price crisis, a new report claimed this afternoon. The city was tipped to bear the brunt of the property downturn as analysts predicted higher interest rates and the credit crunch would bite hard over the next 18 months. New figures suggested the West Midlands would be the country's worst hit area for falling house prices. Information group Experian said up to four per cent could be wiped from the value of properties in the region.