New figures just released from Zoopla.co.uk, show that the average value of homes in Britain has been falling by on average £43.84 every day since the beginning of the year, wiping a staggering £300 billion (£1.25 billion per day) in value day off the housing market since January 1st.
As the property market continues to battle against the fallout from the global credit crunch, the figures show that property values in England have fallen most, down £11,343 since the beginning of the year or £46.49 per day on average.
Values in Wales dropped by an average of £10,742 or £44.02 per day since January.
Scottish property prices have fared slightly better, losing only £4,928 or £20.20 per day on average.
Zoopla.co.uk, the UK’s leading house prices website, which provides free current value estimates for every UK home, has released the results of it’s
research, showing the most/least affected areas of the country by analysing the year to date value changes in every area of Britain.
Berkshire has been the hardest hit county in England so far in 2008, with the average home recording a daily loss of £75.51, or a weekly value drop of £528.57; Dorset has also suffered from the recent slump with average values down £64.58 per day or £452.06 per week.
However, the Zoopla analysis also reveals pockets of Britain where values have held steady since earlier this year, either down only marginally or in a handful of cases actually seeing a rise in values.
Most notably, Peterhead in Aberdeenshire has seen house prices increase by 1.22 per cent since January, whilst Banstead in Surrey has also seen an increase of 0.82 per cent.