Thursday, July 10, 2008
The price of the average home has plummeted £17,000 since January. The price of the average home in Britain has plunged £17,000 since January, devastating figures revealed today. House prices are falling at a rate not witnessed since records began in the 1950s, according to the report from the banking giant Halifax. This suggests the current meltdown is even worse than the previous house price collapse in the 1990s. In a further blow, experts warn the current collapse is only at 'the initial stages of an extremely sharp correction'.