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Centre for Economics and Business Research issues downbeat property report

The Centre for Economics and Business Research (CEBR) has today issued a damning review of the UK property market which does not bode well for the short to medium term. The CEBR believes that the UK property market still has a "further 8% to fall" before prices start to stabilise and eventually recover. However, the recovery in the UK property market will be sluggish to say the least with 2010 and 2011 set to see a combined increase of only 6% in UK property prices.

Unfortunate for those expecting a quick fix and a quick turnaround in the UK property market, the CEBR is adamant that 2013 will be the earliest opportunity for significant price rises. This means that UK property investors and homeowners could have a further three years of difficulties before any good news is forthcoming. This is probably one of the more downbeat reports to be released over the last few weeks but again it is a potential reality check for many who were getting over excited.

There is no doubt that the UK property market is the key to an eventual recovery of the UK economy but a three-year delay will no doubt cause more financial difficulties for many across the country. Property owners will be hoping the CEBR report is overly pessimistic and proves to be very wide of the mark.

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