Carry On Falling

[BrilloPad]

A house just sold down the end of my road...

Is there a punchline? Was it at a 25% discount?

[DimPrawn]

The great new British comedy. House prices.

http://www.guardian.co.uk/money/2008....housingmarket

House prices in England and Wales fell for the eighth successive month in May as potential purchasers continued to shun the property market during the traditional spring buying season, according to a survey by Hometrack.

The housing intelligence business said the 0.5% drop in prices followed a 0.6% fall in April and meant the average cost of a home was 1.9% cheaper than in May 2007 - the fastest rate of decline since November 2005.

Richard Donnell, Hometrack's director of research, said: "What we referred to last month as the buyers' strike continues with a 6.7% drop in the number of buyers registering with agents over May, following a 2.8% fall over the previous month."

The survey found that the supply of homes continued to rise, with the 20% jump in the number of homes on the market since February pushing down prices.