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How low can the UK property market go?

The UK property market has been under pressure for some time and opinions amongst experts are very mixed with regards to the direction in 2009. While many are hopeful of a stabilisation in the market there are others suggesting that 2009 could actually be worse than 2008. However, the majority of parties with an interest in the property market are of the opinion that until bank lending is resurrected and the UK financial sector is back on its feet there will be very little movement in the property market.

Mortgage approvals have more than halved over the last 12 months which is a perfect example of how difficult the market has been. Buyers are being very choosy about which properly investments they go for with many determined to negotiate a lower price than that advertised. While the financial press has not really highlighted the potential for distressed property price sales it would appear that some areas of the country are still finding it very difficult to attract buyers.

There is also a feeling among some investors that the long-term potential of the UK property market is very attractive but actually buying at the bottom of the cycle is something which very few people will ever manage in a lifetime. While it depends on your investment strategy, investment timescale and your expected return it is worth taking professional advice regarding in such areas as the property sector and discussing the medium to long-term potential for capital growth with professional advisers.

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