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Another day another property report

As the future direction of the UK property market comes under ever closer scrutiny they were reports disclosed this week which indicated a potential rise in property prices by the end of 2009 and a 25% fall in like-for-like mortgage approvals in March. These figures would appear to indicate significantly different outcomes in the short to medium term but many investors still continue to cling on to the hope of a short-term recovery in the UK property market.

Increased liquidity, competition in the mortgage sector, a fragile increase in consumer confidence and words of encouragement from the UK government have all come into play over the last few weeks. However, after initially looking as if the UK property market was at least slowing down its rate of decline there has been little follow through in the short to medium term. Quantitative easing and relatively low base rates will have a part to play in the recovery of the UK property market but how and when this may happen is very much open to debate.

It seems that for every positive report on the UK property market we see a negative report creeping under the radar. Initially there was a feeling of growing confidence in the UK property market but the last few days have seen investor confidence turn downwards in the wake of political unrest and yet more bad news on the employment front.

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