Denial is rife about falling UK house prices

Yes, I suppose they are. :)

I am issuing the Arrest Warrants now. :)

Isn't the pound still something of a petro-currency? Rising oil prices should put upwards pressure on the pound I would think. It will also hae an effect on inflation. Oh dear - we need to drop interest rates because of the effect oil has on the currency but increase them to choke off inflation. Looks like we are back to stagflation at this rate.

I was surprise about B'mth as it is kind of the south-east and a friend in London told me her flat in London had dropped from about 170K to 150K over the last 12 months and the house she has just moved to has dropped from 300K to 245K over the same period.