U.K. Luxury Homes Lose 10 to 15 Percent in Value
May 7, 2008
London–Homes worth more than £1 million ($1,952,015) have been hardest hit by the U.K. residential market decline, the Mail On Sunday reports.The average prices of the country’s most expensive homes have fallen from 10 to 15 percent since September, according to London-based real estate agency Hamptons.Homes that sell for £200,000 ($390,403) also declined over the…
London–Homes worth more than £1 million ($1,952,015) have been hardest hit by the U.K. residential market decline, the Mail On Sunday reports.The average prices of the country’s most expensive homes have fallen from 10 to 15 percent since September, according to London-based real estate agency Hamptons.Homes that sell for £200,000 ($390,403) also declined over the same time frame–but only fell 3 percent.A home that sold for £960,000 ($1,873,934) in fall would now only garner £820,000 ($1,600,434)–and the decline could indicate the start of a large U.K. housing slump, the Mail said.
