Thursday, September 2, 2010
Express yesterday said “Family home prices rise Â£91 per day”
House prices are plunging by more than Â£90 a day amid fears that Britain is heading into a double-dip housing recession. In August, the value of the typical home has slumped by nearly Â£2,850 to an average price of Â£166,507. The figures, from the Nationwide, the country's biggest building society, show average prices dropped 0.9 per cent last month, following a -0.5 per cent fall in July. Many economists suspect this is the start of a serious slump with the most pessimistic predicting prices could fall by 20 per cent over the next couple of years.