Wednesday, December 21, 2011

Wakey wakey

Scots in 'denial over fall in house prices'

SCOTS are burying their heads in the sand over how much the crash in the housing market has wiped off the value of their homes, a survey has revealed.Fresh data from the Office of National Statistics (ONS) shows that most people believe their house is worth only £1000 less than it was on the eve of the economic downturn in 2006.But the reality is more than 10 times that amount has dropped off the value of the average home in Scotland.The ONS survey analysed the wealth of the nation, both in terms of property and the value of possessions, and also looked at householders' perceptions about the value of their assets.Statisticians found the average Scot believed their home was worth £150,000 last year, compared to £151,000 in 2006.

Posted by laura g @ 01:40 PM (2584 views)
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4 thoughts on “Wakey wakey

  • Meanwhile over the border in England the Brits have their fingers in their ears and are shouting, “La la la la la la …..”, whilst waiving two fingers in the air at the French. Oh I do love history.

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  • There was a financial crisis in 2006? I thought it was 2008?

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  • £11,000 out of £151,000 is a 7.3% fall, over several years. That’s a HP-stumble not a HPC.

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  • it must be the start of teh denial phase on the “stages of a bubble” chart that has been posted in the past.

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