"Most of us have rented a flat or house at some stage in our lives and the private rented sector is, at its best, a vital provider of good housing, " said housing and planning minister Yvette Cooper.

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So a 4.5% interest rate might well lead to flat or even slightly higher house prices in 2009.

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As a result, they are buying their first house or flat at a later age than previous generations, and renting for longer.

ECONOMIST: The housing market

Whether it's growth, house prices or investment - everything that's flat or falling in the UK seems to be taking off in Brazil.

BBC: Brazil: No reverso