Friday, June 6, 2008

House prices fall at fastest rate since 90s crash

House prices fall at fastest rate since 90s crash

House prices are falling more rapidly than at any time since the early 1990s property crash, according to figures released by the Halifax yesterday. Amid City fears that the Bank of England's decision yesterday to peg the cost of borrowing at 5% could push the economy into recession, the Halifax, Britain's biggest mortgage lender, reported that the cost of a home fell by 2.4% in May, wiping almost £5,000 off the cost of an average house.

Posted by housebear @ 08:51 AM (342 views)
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2 thoughts on “House prices fall at fastest rate since 90s crash

  • The question is, do we get the champagne out?

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  • Bearfood bonanza this morning i say.Thanks to everyone for posting all this goodnews this morning .You all just made my day thanks .

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