Friday, July 9, 2010
Avg house lost Â£1100 last month
The ConDems' savage spending cuts will trigger a second house price crash next year, warn experts. Spiralling taxes and a cull of public sector jobs are expected to blow a hole in the housing market. The slump has already begun. The Halifax said yesterday prices fell 0.6% in June - the fourth dip this year. Last month's drop slashed the value of the average home by almost Â£1,100. That takes the national average to Â£166,203, with nearly Â£3,300 wiped off the value since the start of the year. Although prices are still 6.3% up on last year, Halifax predicts that further falls in the coming months will mean they end 2010 unchanged.