Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media platform: The Degel HaTorah party, which has four members in the Knesset, announces its withdrawal from Netanyahu's cabinet.
Local Syrian sources: The raids targeted the road between the village of Al-Mazra'a and the city of Sweida, where forces and factions affiliated with the Syrian Ministry of Defense are advancing.
Local Syrian sources: New raids carried out by Israeli warplanes targeted vehicles and gatherings of military factions affiliated with the new Syrian Ministry of Defense.
Local Syrian sources: Israeli raids target, for the third time, gatherings of Syrian Defense Forces military factions in the southern countryside of Sweida.
The Ministry of Health in Gaza: Gaza Strip hospitals received 120 martyrs and 557 wounded in the past 24 hours.
The Israeli Walla! website: We are running out of stockpiles, our forces are exhausted, and the lives of the captives are in danger. It is time for a ceasefire deal in Gaza.
Several wounded in an Israeli bombardment of a tent in al-Mawasi, south of Khan Younis in the Gaza Strip.
Israeli media: Three wounded, three killed in an ongoing operation in the Gaza Strip.
Al Mayadeen's correspondent in southern Lebanon: Israeli artillery shelling targets the outskirts of the town of Shebaa
Al-Qassam Brigades: The targeting took place at the intersection of 'Street 5' with the western line north of Khan Younis

House prices fall similar to the UK's 2008 crisis

  • By Al Mayadeen English
  • Source: Agencies
  • 7 Feb 2023 16:04
2 Min Read

Experts reveal to The Telegraph that house prices in the UK are currently in decline.

  • x
  • London housing market in UK. (AFP)
    London housing market in the UK. (AFP)

In a report published by The Telegraph, the website reveals that house prices are declining at the exact same rate as they did during the UK's financial crisis in 2008.

Figures from The Telegraph's new house price tracker raise the question of whether recent declines will level off or continue on the same trajectory, dropping by as much as 20 percent as in 2008.

The website compares data from Nationwide and Halifax lenders to demonstrate how much the price of homes has fallen since the housing crash of 2008. Because they are based on prices at the time of mortgage approvals as opposed to indices that look at properties' asking prices, both Nationwide and Halifax's indices are thought to provide a more trustworthy image of agreed sale prices.

Read next: UK recession gravely affecting cost-of-living, extends throughout 2023

Property values have decreased by 5.7 percent, or £16,111, in five months since prices began to decline in August 2022, according to an analysis of the lenders' data.

Related News

New report unmasks vast scale of money laundering in British Columbia

The chart illustrates how house prices dropped exactly the same percentage during the first five months of the financial crisis, which began in the fall of 2007. Then, in 2008, home prices dropped by as much as 20 percent.

The average home's value would decrease from £284,000 to about £227,000 if current prices followed the same trend, a decline of nearly £60,000 from peak to trough.

Widespread expectations are for property prices to decline as rising mortgage rates reduce the amount that buyers can borrow. However, property experts are hopeful the reality may not be as bad as the figures currently suggest. 

Read next: IMF warns inflation to remain elevated in UK

Oxford Economics and Capital Economics analysts predict that prices will decline by 12 percent in 2023, as opposed to the 18 percent decline seen from 2008 to 2009, however, the fall might not be as severe as in 2008, but it might last longer.

During the financial crisis, prices dropped for 16 consecutive months, but Oxford Economics analysts expect this downturn to last 24 months.

  • house prices
  • UK inflation
  • United Kingdom

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Al Mayadeen: UN Palestine Inquiry members reportedly resigned
Politics

Al Mayadeen: UN Palestine Inquiry members reportedly resigned

Rutte, Trump
US & Canada

Trump threatens 100% secondary tariffs on Russia, sets deadline

Syrian government soldiers on a motorcycle pass by a burning tank on the outskirts of Sweida city, where clashes erupted between the Druze community and Bedouine clans, in southern Syria, Monday, July 14, 2025 (AP)
Politics

Israeli airstrikes target Syrian military factions near Sweida

Lebanon, US, disarmament
MENA

US pressure on Lebanon grows over Resistance disarmament plan

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS