Property prices have fallen, property owners remain worried about the economy…

October 31, 2011

CIA Let Property Blog

Property prices are falling, but property owners still remain worried at the state of the economy

Land registry have revealed in the latest property index that property prices have fallen on average by 0.3% per month running up to September.

With a fall of 8.2%, the North East have faced the largest fall with Wales (5.8%) in second place. Property owners have a growing lack of confidence with the property market and these results show this.

Property owners are staying in their existing homes or going into buy-to-let because of the concern about the UK economy. Because of this, the average property prices in England and Wales now stuck at £162,000.

In London it seems they have some good news, London property investments have seen an increase of 2.7% with continued growth over the last 12 months.

We hope you found this information useful. Please remember to use CIA Insurance when you or your family and friends need motorcycle insurance, landlords insurance or commercial insurance.



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