Falling house prices are a major concern for all consumers in recent months as economists warn of a second property crash potentially on the way in the near future. Nationwide’s latest figures confirm this as well, with the national average of house prices falling by roughly 0.9% over the past month and more expected to be seen on the way as 2010 progresses into the traditionally slow property months of winter.

While for many first-time buyers that have been edged out of the market due to the substantially increasing house prices throughout the country this may be good news for the economy as a whole it bodes ill for many people. This is especially true with mortgage lending being stuck at one of the most difficult times ever to acquire due to rampant unemployment affecting all regions and poor credit worthiness brought on by the credit crisis limiting the purchasing power and credibility of all but the strongest consumers.

Nevertheless should a double-dip in the property market occur there is little that any central banking body can do to assist this time around. With interest rates still locked at the historically low 0.5% little room is left for a central rate adjustment, and as the property market continues to teeter on the edge of collapse even many overseas investments in various residential and commercial developments have begun to wane. This is leaving many local property holders stuck with many property locations that may end up bringing them significantly greater debt than credit and leave them with the sole responsibility to cover their finances should a major financial loss occur.

Economists and professional lending institutions are still looking into various options on how to soften the blow should another major dip occur, however at this time concerns are remaining high and less-than-optimistic as the year comes to an end and property markets are beginning to be well outpaced in terms of supply verses demand.