Wealthy Wokingham homeowners are not immune to the credit crunch and may see the biggest house price dives in the country, according to new research.

The borough’s high population of above average earners means although it has weathered the property storm so far, it may be in for big shock in the next six months.

Homeowners in the borough could see as much as £40,000 wiped off the value of their property this year, according to research from insurance firm AXA and the Centre for Economics and Business Research (CEBR).

Their report warns although Middle Britain has been relatively unaffected by the property price fall, this will soon catch up with the regions with the highest concentration of Middle Britains, including Wokingham.

The Middle Britain label from the research includes households with an income of between £40,000 and £100,000.

- See this week's Wokingham Times for the full story.