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With house prices in freefall, it’s good to know that we ordinary mortals are not alone. Some of our best known and favourite celebrities have been suffering too with the values of their huge sprawling homes crashing down to earth, some losing more than £1m in the last 12 months. Take Carol Vorderman for example who recently had to drop the asking price on her London penthouse by £800,000, or Everton star Phil Neville who had to adjust the price of their Manchester home from £4million to £3.5million because they couldn’t sell . And although Guy Ritchie kept possession of the Wiltshire Mansion he shared with ex-wife Madonna, its value has dropped from £10.5million to £9.2 million in the last year - a whopping loss of £1.3million!

Falling prices can work in people’s favour though. “Dancing on Ice” winner Suzanne Shaw was able to buy a five-bedroom home in Bucks for about £50k less than the asking price – at a mere £610,000.

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Alex Chesterman of property valuation website Zoopla.co.uk, says ”it’s natural that celebrities homes will have been hit harder than most given that they’re worth millions in the first place. Here are some examples of such drops in value that are affecting our best know celebs.

The Beckhams: Hertfordshire

Grade II listed Rowneybury House – known as “Beckingham Palace” in Sawbridgeworth, cost £2.5 million when it was bought in 1999. It’s set in 24 acres, with 7 bedrooms, an indoor pool, recording studio, snooker room, gym and floodlit tennis courts.
December 2007: £7,450,000
December 2008: £6,640,000
Lost: £810,000

The Coles: Surrey

Cheryl Cole is very much the girl of the moment, and owns a property to match her prime celebrity status. Cheryl apparently wanted to sell her 6-bedroom home in Oxshott after Ashley cheated on her with a hairdresser.
December 2007: £3,500,000
December 2008: £3,200,000
Lost £300,000

Madonna: Marylebone Madge owns two adjoining townhouses in Central London, one with six bedrooms which she bought in 2000, and the other with 10 beds which she snapped up in 2007. She kept the huge properties as part of the settlement in her divorce from Guy Ritchie, who got to keep the couple’s Ashcombe estate in Wiltshire.
December 2007: £7,450,000
December 2008: £6,700,000
Lost £300,000

Jonathan Ross: Hampstead With his £6million-a-year BBC mega-salary Jonathan Ross can afford to have a pretty luxurious pad. Apparently he spent £500,000 to renovate the 7 bedroom Georgian house in North London in which the bathroom alone accounted for £100,000 including a £40,000 marble bath tub.
December 2007: £3,800,000
December 2008: £3,500,000
Lost £300,000

Elton John: Berkshire
Elton snapped up his mock Edwardian Old Windsor mansion in 1975 for the bargain price of £400,000. Set in 36 acres just a stone’s throw from Windsor Castle, it boasts stables, tennis courts, a gym and a swimming pool. The stables, converted into garages are big enough to house 36 cars.
December 2007: £9,700,000
December 2008: £8,650,000
Lost: £1,050,000

If you dare find out the current value of your home, or anyone else’s, use our free property valuation tool, powered by Zoopla.co.uk