Prices rise, sales fall
As you can see from the data on House Price Spy for England, Scotland and Wales the average price are still rising but number of sales contunue to fall. So the housing bubble is holding but with the end of the summer comes a drop in sales so the situation in fragile with many people still staying out of the market until things settle. I think its fair to say that we will not see a truly rebliable financial recovery until true market confidence comes back and the total number of sales reaches nearly 40,000 for England, 6,000 for Scotland and 2,000 for Wales.
The next phase of the property saga will be a slight drop in avergae prices followed by a media based panic that we are lurching back into a recession, dont be fooled it appears now that the process of rising prices will take years to complete and never be something to bet your shirt on.
Gordon Brown/Alistair Darling have been busy behind the scenes and brown has enought to deal with what with expenses, Libyan bombers, smiling for the cameras (?) and planning for the next election.