Town house prices show big fall

HARTLEPOOL saw the second biggest drop in house prices in England during 2011, according to a mortgage lender.

The Halifax Town House Price Survey shows prices of homes in the town fell by 14 per cent to an average of £108,976 during the last 12 months.

Kettering, in the East Midlands, and Dunfermline, in Fife, Scotland, were the only towns to see bigger reductions across the UK, with 15 per cent drops each.

Halifax said the negative impact on house prices, which fell on average over the year by four per cent to £172,400, is being felt in areas outside southern England which rely on public sector jobs and have weaker economies.