Finally some data comes through to back up the 'house price crash' theory... Halifax released data showing a 2.5% month-on-month fall in average prices. Don't all jump out the window at once, folks... the Halifax and Nationwide indices of house prices are notoriously volatile. Nonetheless it would have been pretty extraordinary if there hadn't been some kind of fall in the wake of the credit crunch.
But so what? Prices have been ludicrously inflated for years now. Restoring some kind of sanity to the market would be a blessed relief. We should be more worried about the increase in global food prices than the fall in UK house prices...
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