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"Significant drops" in Home Counties house prices

The south of England – and especially the Home Counties – is currently experiencing "significant drops" in property prices, an expert has explained.

More from Trends and Analysis
19 January 2009

"Significant drops" in Home Counties house prices

The south of England – and especially the Home Counties – is currently experiencing "significant drops" in property prices, an expert has explained.

Mark Milner, the chief executive of estate agent website Primelocation.com, said in recent days that these falls were "inevitable".

This was due to the “unsustainable” rate at which homes in the region were rising in value prior to the beginning of the global economic slowdown in 2008, he explained.

As such, potential buyers who are in good financial positions - which could potentially include credit card customers - now have the chance to "make the most" of the "bargain opportunities" available to them, Mr Milner continued.

The expert concluded: "Across the country, house prices have dropped, resulting in more areas being affordable. The trend is expected to continue with the market seeing a further ten to 15 per cent dip."

According to data from Knight Frank, prime country house prices fell by nine per cent in value in the final quarter of last year.

Posted by Alex Adams

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