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Water Mill in SW France with private island

Water mill for sale in SW France This property consists of an renovated water mill 60m2, and a mill to renovate. With a private island and the mill wheel with mechanism you have the posibility t... Prices From: £213,935

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uk home prices cut by average of 0.8pc

News Posted On: 19 January 2012

UK home sellers dropped their asking price by an average of 0.8% in January compared to December according to the UK’s largest property website Rightmove. This is the third consecutive monthly fall according to the portal, which also puts asking prices now at their lowest in a year. As always London managed to buck the trend with asking prices increasing by an average of 0.8%.

With Ernst and Young LLP’s ITEM Club reporting that Britain is slipping back into recession, property prices are expected to remain under pressure during 2012. The market is being affected by rising unemployment and Europe's continuing inability to deal with its debt crisis.

Experts think the property market in the UK will remain in a state of limbo until the European crisis is stabilised and consumer confidence returns. EU leaders are due to meet at the end of the month in yet another bid to reach a resolution.

Last week Standard & Poor cut the ratings for nine countries within the Eurozone, but it's generally thought the U.K.'s top rating is secure at the moment. This is because the UK is at far less risk of having to support countries and banks within the Eurozone who are struggling to deal with the debt crisis. This position is also being helped by the coalition government's commitment to reduce debt.

ITEM Club is expecting the British economy to shrink during the current quarter and has cut its growth forecast for this year from 1.5% to just 0.2%. However recent data for the construction, manufacturing and services sectors has been more positive.

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