POSH flats in Sheffield city centre have experienced the fifth biggest fall in property prices of all new developments in Britain.
Between October 2007 and this month, average values at Millsands, next to the River Don, fell 15.1 per cent from £142,000 to £120,500, according to research by property website Mouseprice.com.
The ten areas suffering the biggest price drops are mainly in big, northern city centres, which attracted buy-to-let investors during the housing boom but where the number of homes built now outstrips demand.
The biggest fall involved canalside flats in Birmingham, where prices fell 17.3 per cent.
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