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The average house price in the UK in January 2008 stood at £218,693. At this time the average house price in London was £379,978
Source: Wheresmyproperty.com

As at June 2005 the average property value in Greater London £238,950 (down 2.5% over year).
Average UK property price £162,60 (up 3.7% over year as at June 2005).
Source: Halifax Regional House Price Guide, published quarterly

Bank of England base rate was reduced to 5.25% in February 2008, significantly lower that the dizzy heights of October 1989 when rates hit 15%

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