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27-03-2009, 03:16 PM
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Land Registry confirms house price drop
According to the Land Registry, property prices fell another 2% in February, confirming what the Halifax and Nationwide have already stated.
This pushes the annual rate of decline to 16.5%, with the average property price now standing at £153,862, that’s £30,361 down in the past year (figures from Land Registry). This is particularly worrying for anyone with a mortgage loan that was taken out within the last few years, as there is a real danger of many people facing negative equity
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