10 years on the credit crunch is still shaping the UK housing market
propertywire | July 27, 2017
After a decade the credit crunch which sent the UK economy downward is still shaping the nation’s housing market, continuing to affect existing and aspiring home owners, new research suggests. The effects of the economic crisis were dramatic and swift as the average UK house price dropped 20% over 16 months and sale, which had averaged 1.65 million over the previous 10 years, fell to just 730,000 in the 12 months to the end of June 2009.