Treasury must pay billions of pounds to convince investors to buy gilts that it needs to sell to cover government borrowing House prices have fallen by an average of 17.7 per cent over the last year, taking prices down to levels not seen for five years, according to the Halifax. The average home now costs £154,716, down from a peak of more than £200,000 in September 2007. However, the national average figures masked widespread regional variations. Here is a list of the percentage decline from the first quarter of 2008 to the first quarter of 2009 for each region in the UK. 1. Northern Ireland Percentage change -22.2 % Average house price Q1 2009: £169,401 Average house price Q1 2008: £217,663 2. Greater London Percentage change -20.9 % Average house price Q1 2009: £237,408 Average house price Q1 2008: £300,142 3. South East Percentage change -20.1 % Average house price Q1 2009: £202,952 Average house price Q1 2008: £254,070 4. North West Percentage change -18.9% Average house price Q1 2009: £122,111 Average house price Q1 2008: £150,625 5. East Midlands Percentage change -18.8% Average house price Q1 2009: £133,739 Average house price Q1 2008: £164,640 6. Wales Percentage change -18.4 % Average house price Q1 2009: £129,745 Average house price Q1 2008: £158,915 7. East Anglia Percentage change -18% Average house price Q1 2009: £156,200 Average house price Q1 2008: £190,381 8. Yorkshire and Humberside Percentage change -16.8 % Average house price Q1 2009: £119,580 Average house price Q1 2008: £143,760 9. Scotland Percentage change -14.3 % Average house price Q1 2009: £122,185 Average house price Q1 2008: £142,623 10. West Midlands Percentage change -12.2 % Average house price Q1 2009: £151,844 Average house price Q1 2008: £173,005 11. South West Percentage change -12% Average house price Q1 2009: £177,032 Average house price Q1 2008: £201,273 12. North Percentage change -11.5% Average house price Q1 2009: £134,330 Average house price Q1 2008: £151,793 UK average Percentage change -17.5% Average house price Q1 2009: £158,359 Average house price Q1 2008: £191,852 The 10 places where asking prices are falling the most The 10 worst property investments ever The 10 people most responsible for the recession The 10 most hated taxes - cast your vote The five strangest caravan insurance claims, ever The 10 richest towns in the UK...and the 10 poorest 20 reasons never to fly Ryanair 50 great things you can get free Money guides How to choose travel insurance Payment Protection Insurance explained How to get a better mobile phone deal How to find the cheapest train tickets
Treasury must find extra £16bn for gilts plan
May 06, 2009
House price falls: A region-by-region breakdown
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