Saturday 1 November 2008 9.48am
Er, Mapmaker, I think you need to change the title of your thread.
As anyone with even a vague idea about statistics can spot instantly, those figures show that house prices are not CONTINUING to rise at all. The fact that they are only up 1.4% YoY reflects the fact that they have actually been FALLING since the heady days of double digit growth. The tiny rise last month is just a blip on the long way down.
Take a look at this Land Registry graph for Southwark for the past two years for the real picture.
If you take the latest report as good news, then I really do fear for you. We are heading into the longest and most painful economic depression history has ever seen.
Anyone who would be prepared to buy now, even if they could get hold of financing, would have to be absolutely insane - especially if they weren't savvy enough to demand a massive cut off the asking price.