| 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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