The liquidity crisis-hit economy has more reasons to worry as the commercial property rates have come down by a significant margin of 22 percent, a recently conducted survey revealed.
London (Longdog Finance) September 17, 2008: The United Kingdom economy tryst with bad times continues as a recently conducted survey revealed a substantial dip in the commercial property rates by a huge margin of 22 percent. This does not auger well for the economy that is already going through the most lean patch of history.
Investment Property Bank, the organisation that conducted the survey is based its research that was conducted on about 3,695 properties. These properties that at present are under the ownership of fund managers and property firms values a huge 40.81 billion pounds. With rising inflation rate on the other side, no relief is expected from these dual attack in near future.
Seeing the dip and situation looking more murkier in near future, people who own more then one property by their name are resorting to sell them. Interestingly this is not a first time that a survey has shown this result, earlier too there have been surveys that have revealed property slumps in the past. Unfortunately for citizens, government has failed to take any preventive measures in this direction always.
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