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Early signs point to falling property values

18 January 2005
House prices have slipped slightly in January, according to the first assessment of house prices since the new year.

In the month leading up to January 8th property prices fell 0.1 per cent, according to Rightmove, the UK's largest online estate agent.

This represents the third month in a row that the website has reported declining prices and the fifth fall in the last six months.

However, Miles Shipside, Rightmove commercial director, has said the news is not all bad for homeowners.

"We might look back in a few months and say this was the point where the market started to come out of the doldrums," he commented.

"Properties marketed at the right price are attracting buyers interest and are being sold.

"I think we can expect to see a pick-up in sales activity. This would undoubtedly give the market a new breath of confidence."

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