Private landlords in East Anglia have particular reason to bemoan the current state of the property market, the findings of a new report suggest.

The latest edition of the Nationwide House Price Index showed that the region experienced the largest rate of decline in residential property values in England during 2008.

Prices in East Anglia fell by an average of 16.6 per cent last year, compared to the English average of 14.7 per cent.

Owners of rental properties across England saw capital values decline, with those in the south worse affected than those in the north.

The housing market slowdown has not only impacted on the value of properties, it has also helped to put downward pressure on rents.

A recent report by the Royal Institution of Chartered Surveyors backed anecdotal evidence from lettings agents across the country indicating that rents have fallen.

The number of homeowners forced to let out properties because they are unable to find a buyer or unwilling to sell at current prices has seen the supply of rental accommodation rise, which has in turn affected rents.ADNFCR-2002-ID-18957982-ADNFCR

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