New mortgage approvals fell during by nearly 36% the first quarter of 2008. According to information recently released by Spain´s highly respected National Institute of Statistics.

In combination with a weakening pound, falling disposable incomes and waning consumer confidence Canary Property report that these latest figures indicate that the price of property in Playa Blanca and across Lanzarote, Fuerteventura and Gran Canaria now look set to soften.

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