British house prices in fastest decline since 1990s as Bank holds rates

Britain is experiencing the fastest decline in house prices since the crash in the 1990s but the Bank of England is holding interest rates.

Britain is experiencing the fastest decline in house prices since the crash in the 1990s according to the country's biggest mortgage lender.

Figures from the Halifax show houses have lost 6.1 per cent of their value during the past year and potential buyers are staying away from the market.

Current building projects are also being suspended.

The Bank of England has left interest rates unchanged at five per cent but that does little to help homeowners and borrowers.



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