11.02.2013 - Boom and bust: How property markets are faring around the world
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
Print