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Boom and bust: How property markets are faring around the world

Posted on 11 February 2013

As savers queued outside Northern Rock to withdraw their cash in September 2007, Britain’s housing market began to crumble. But a decade of blistering increases, which took the average home from £68,777 in 1997 to £199,766 in late 2007, ended with a whimper. Prices slipped over 2008 and hit a low of £157,767 in summer 2009. Today the national average has climbed back a little, to £162,932, according to Halifax.
But regional variations have been extraordinary. In Northern Ireland, the implosion was devastating. Houses that typically sold for £230,000 in 2007 now fetch just £100,000, a 57% collapse………………………………………..Full Article: Source


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