Price shock for home owners
NEW research from property website Zoopla.co.uk shows that four out of five homes bought in Britain since 2006 have a market value below their purchase price.
Of the 4.32m homes purchased since 2006 and where the ownership remains the same, 80 per cent are worth less today than their purchase price, according to Zoopla.co.uk
Worst affected are the homeowners who bought at the peak of the market – 93.2 per cent of homes bought in 2007 and 88.9 per cent of those bought in 2008 are now “underwater”.
The North-East is the worst affected area.