Friday, May 2, 2008
A first-time buyer now needs £25,000 on average to buy a property
Halifax, the country's largest mortgage lender, said that the average home price has fallen by £8,136 since the start of the year to hit £189,027. The decline in value equates to a fall of £479 a week. It is the third major survey this week to confirm that after months of falling prices, houses are – for the first time in 12 years – worth less than they were worth a year ago.