Monday, January 12, 2009
More silver linings
Falling house prices have made it easier to trade up from the very bottom of the property ladder than at any point in the past five years, figures suggest. But because larger properties have held their value better it has become even harder for families in middle-sized homes to move into more spacious houses. The decline in the value of two-bedroom homes has been sharper than any other property type, with such properties losing about 12 per cent of their value compared to a drop of eight per cent in the price of one-bedroom homes, according to the estate agents propertyfinder.com. The difference in price between the average one-bedroom property and two-bedroom house is now some £31,000 - £10,500 less than it was a year ago and the lowest level for five years.