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The Independent: "House-price crash fear as buyer-seller stand-off leaves the market in limbo"

Link to web site

"Fears that Britain is braced for a house price crash were raised yesterday by another set of gloomy figures from Halifax.

"... Some economists fear that worse is to come, with British house prices still sharply over-valued compared with the US.

"Some estimates suggest they would need to fall by between 40 and 60 per cent to bring them into line, a nightmare scenario for lenders whose customers would face being locked into negative equity for years to come." 

Link to Daily Mail

Daily Mail:
"House prices have fallen by 20% in the past 5 years, leaving millions in homes worth less than they paid for them"

"The average home in Britain is worth nearly £40,000 less than it was five years ago.

"Prices peaked at £200,000 in August 2007, but the same home is now worth only £161,000, according to figures published yesterday by the Halifax bank.

"The drop of almost 20 per cent has left millions of families in homes worth less than they paid for them – and there are strong fears that prices could fall further."

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