Loans and Finance

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Wednesday, April 30, 2008

The Falls Continue

House prices continue to fall, Nationwide's measure of house prices has shown the first annual fall in 12 years.

Prices are now 1% lower than this time last year.

For those who already own property, and are seeking to move, the fall should not affect them as the effects of a reduction in selling and buying prices will cancel each other out.

However, first time buyers may not be helped that much by this fall; as mortgages are now proving very difficult to obtain and many lenders now require a 10% deposit.

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