1 - 1. Property prices are falling across the United...

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1. Property prices are falling across the United Kingdom, the Land Registry has recently reported. House price falls currently stand at 8% and according to the Land Registry the average property dropped £5,700 in value during the month of September. Whilst all regions of the United Kingdom were affected, September's biggest fall occurred in Wales where the drop was recorded as 5.5%, leaving the average home worth £126,530. However, as house prices tend to be falling in some areas, in others there have actually been some surprise rises. Hartlepool for example has seen a 4.7% rise over the past year and other areas including Rochdale, Stoke on Trent and Windsor and Maidenhead have seen a rise of up to 1%. Even some areas of London have witnessed a rise in property value. Not such good news for televisions' Carol Vorderman though; she has been forced to reduce her houses of Parliament-facing penthouse by a huge £800,000. Despite these regional rises, apparently the outlook for 2009 looks grim for home owners in most areas of the United Kingdom. The Centre for Economics and Business Research said that by the end of 2009, price drops across the country will reduce the value of the average property by £50,000 which means prices will be back where they were in 2006. The Centre's study indicated that property sellers are realising they need to accept more realistic offers from buyers. So what of the recently lowered interest rates? The overall feeling is that these will have little effect on the house price falls. Howard Archer, chief UK economist at analysts Global Insight, said: "The support to the housing market coming from the likely faster and deeper cutting of interest rates by the Bank of England will be countered by recession, faster rising unemployment, an only gradual easing of extremely tight credit conditions, and widespread expectations that house prices will fall considerably further." Research for the National Housing Federation claimed the downturn would be over by 2010 and that this would result in the return of property price rises. However, the 'voice of affordable housing' says that rising prices may not necessarily be positive. Regardless of the economic depression property has always been looked up as a worthwhile investment  option by  the investors. This holds especially true for  rentalproperties  in London. Investment in Property is still regarded as a  sound investment in an otherwise unstable property market and involves a low risk investment. Even at the time of  economic blues and stock market slump, investors can bank upon property rentals in London and yields a decent  return. To go by the latest statistics, property rentals in London, has a stable market when it come to rental 
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1 - 1. Property prices are falling across the United...

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