Most potential buyers are hard pressed to save anything at the moment let alone a 15% deposit etc.

That assumes they would be daft enough to buy at still exhorbitant prices, while unemployment and inflation are rising and a mega tax bill for the bailout is on its way.

10% seems optimistic.

Mark, Oldham, UK

I have believed for years that prices will fall 50% from peak back to 3.5 times salary. The way the market is crashing I can't see anything else happenening apart from a bigger fall in an over correction.

A 10% further fall just sounds like what they kept saying in the US and they were wrong.

Gavin, London,

Another guru who simply lives in a different world and thus fails to see the reality of it all. With a huge thinning out of the workforce only just begining, combined with massive economic turbulence world wide, surely house prices will crumble significantly during the next year?

Peter Ellis, Calpe, Spain

Andrew, London.

Your 'daily data' from your (ahem) "London retail property company" shows - if I understand correctly - continued price falls.

From this you have inferred that prices are "near the bottom of the bell curve."

I'd be more inclined to believe the data than your inference.

Scott, Mexico D.F., Mexico

Lets get some perspective on this the UK has a massive sub prime mortgage problem that as only 6 to 8 months away! Housing will have to correct back to 4 x income so we will be looking at a %50 drop from summer 07 prices. Too much mortgage fraud for it not to happen look at the state our banks!!

john, poole,

This is 3 months out of date. It is based on the selling price of houses sold 3 months ago, REAL house prices have already dropped 20% and are near the bottom of the bell curve. I know this because I have daily data from my own London retail property company.

Andrew, London,

They wish ! Unless income's rise considerably (and theyn won't!) prices will continue to fall untill they reach an affordable level. Prices have another 20% to fall plus the original 13% which in many areas have not yet shown in reduced asking prices!

mel, worcester, uk

In the US this was the situation 6 months ago - experts ???? saying that prices would stabilize soon..

It ain't happened and won't in the UK till prices reach a sensible income based cost relationship.

40% reduction by mid 2009.

Paul, London,

140K sounds about right, £25k x 1.5 incomes x 3.5 borrowed, plus 10% deposit = £144k apporximatly, that is assuming that employment levels remain fairly constant.

Ben, folkestone, uk

"Leading economists warn MPs the housing market is likely to plunge by a total 20% before making a recovery"

Why is that a "warning"? The only "warning" there is that massive re inflation is getting construed by idiots as a "recovery".

An average price of 140K is about right.

Joe, Manchester,

Why is this bad news.I thought policy makers had been trying to reduce house prices for years and this is still only back to 2006 prices

Colin Grant, Montreal, Canada

stabilise x3

Louise, London,