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Is it fair to blame the media for falling house prices?

A number of estate agents and surveyors around the UK are attempting to place the blame for the ongoing downturn in the UK property market on the media sector. However, a number of prominent media property experts also point out that when the market is rising there is no credit given to the media in the UK and it is only when prices began to fall that damaging headlines "are to blame".

While there's no doubt that the UK media does play a major part in consumer and business sentiment across the country, there is also no doubt that consumers can see for themselves that demand for property is beginning to waver. In many ways it was a lack of property on the market which allowed prices to move higher over the last two years but now that more sellers have stepped forward, and some buyers have stepped back, the momentum is certainly turning downwards.

However, those hopeful that the headlines in the financial press may well improve in the short to medium term may well need to think again because in many ways this is just the tip of the iceberg. There are literally billions upon billions of pounds to be saved from the public sector budget, tax increases to follow and a very difficult period for the UK business arena to say the least.

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