Wiltshire homes 'hold their value'

4:30pm Sunday 4th May 2008

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HOUSE prices in Wiltshire are holding up well compared to the rest of the country, new figures have shown.

The average value of a home in the UK has dropped by £44.39 a day or £310.73 a week so far during 2008 as the property market slows in the face of stretched affordability and the problems in the mortgage market caused by the credit crunch.

But in Wiltshire, the drop in value is just £5.35 per day, according to property valuation website Zoopla.co.uk.

Nationwide, the pace of the falls has accelerated during the past 30 days, with homes seeing an average of £55.40 a day knocked off their value during this period.

Overall, the group said the average price of a home in the UK had fallen from £224,046 at the beginning of January to £218,764 on April 28.

People in London, where property prices are highest, have been the biggest losers, seeing an average of £133.58 a day or nearly £1,000 a week wiped off the value of their home.

At the other end of the scale, homes in Hertfordshire have been affected the least by the downturn, seeing an average of just £5.25 knocked off their value on a daily basis, followed closely by Wiltshire.

Unsurprisingly, detached homes have seen the biggest price falls, losing an average of £71.68 a day during the past 30 days, but flats in England have actually seen their prices rise by an average of £2.84 a day since the beginning of the year.