Britons have collectively seen nearly £300 billion wiped off the value of their homes since house prices first began to fall in September last year, research by property valuation website Zoopla.co.uk has showed. This is equivalent to more than £1 billion a day being wiped off the collective value of British homes. But it added that the recent price falls should be seen in the context of strong gains in recent years, with the value of Britain’s housing stock soaring by £750 billion during the past three years and £1.7 trillion during the past five years.
Tags: House prices, property price falls, Property Prices, property value, zoopla