you want to see cheshire and the wirral, signs everywhere and prices are dropping too, however they still look overvalued...

some parts I have seen 80% of the culde sac for sale, same on some roads, signs lined up...

If this is not a sign what is?

mark, chester, cheshire

come down, sit and fastened your sitbells because the crush of the house market is just on its way.

d, london,

Prices falling? Not really in the Marlow and surrounding areas! Having viewed the local estate agents windows yesterday afternoon, my reckoning is a 20% increase since last year on desirable houses.

David, Wellend-On-Thames

David, Bourne End, UK

The Times seems to be obsessed with spreading the doom n gloom panic. It's self fulfilling unfortunately and will have an effect on buyers confidence in the market. Why do journalists always feel the need to paint the picture as either black or white and not the reality. The market has slowed it's rate of increase but thats hardly call for 'crash imminent' panic talk.

Dominic, London,

Prices will not stagnate. To say there will be "a " crash is simplistic" : there are too many divergent influences affecting the market. Excluding extrordianary effects viz the London sector (including propeties outside London but nonetless part of its market) the "ordinary" homeowner is or will be facing increasing difficlulty. Recent RICS reports show significant increase in reposssessions (36%) from a relatiecely low base but also concealing the greater rising tide. Look at the number of "nearly" repossessions i.e. those incidents that were retrieved after the initiation of proceedings. As the ability to remortgage adverse credit diminishes those homeowners will be incresingly tipped over the edge. These numbers are potentially massive. An increasing inablity to roll-over unsecured debt on low rate terms will exacerbate the secured debt problem. And London? Slashed bonuses, City redundancies; we've seen it before. Some factors will support the top but flight capital goes both ways.

David, Sevenoaks, UK

Reading all the negative comments of the doom sayers, I believe that following the imminent and drastic crash in property prices, there will be a total collapse of the whole of the UK Economy.
I urge everyone to panic and to keep on panicing until their aims are realised.

After all, we are all suffering from the devastating consequences of past crisies/panics, such as, AIDS/HIV, Salmonella in eggs, Listeria, CJD, Sars, Bird Flu, Mobile phones, Northern Rock and soon to come Global Warming.

I am completely baffled as to why there is still 60mio people living in this country, most in relative comfort, with many more thousands arriving daily, many of whom have the cash to buy property outright.

I think I am missing something because obviously I am not as clever as the doom sayers

Running on Empty, Gerrards Cross, Leafy Bucks

If you had read the actual report from Rightmove you would see that the 2.6% asking price reduction is an anomaly caused by the massive (41%) reduction in speculative 4+ bed homes coming on the market - because of HIPs.

In case the correlation is not clear, 4+bed homes are typically of higher price than smaller homes - hence the average asking price reduction.

Emma, Maidenhead, Berks

Frank, New York . £103 as a percentage of after tax income of 50k is more like 4%. Also, many borrowers will have borrowed 4 or more times income, making the percentage increase against take-home pay even higher. I agree that in more sensible times these percentages wouldn't lead to catastrophe. However, with over a trillion pounds of personal debt in the UK many people are already spending up to or beyond their net income every month to service total loan repayments. For these, an extra £103 per month going out may easily be the final straw that forces a sale of their property. This will lead to a major downturn in the UK housing market.

Clive, Chichester, UK

In the above article on the credit crunch and housing prices, you use the example of a £150,000 interest only Libor mortgage set to experience an increase of £103 in monthly payments.

Admittedly, this will shock some borrowers, but unless the borrower was pretending to have an income. The borrower of a £150,000 mortgage loan will probably have an annual income of £50,000. Putting these numbers together one concludes, the borrower will witness an increase of 2.4% of their income being used for mortgage payments. Unless the borrower is in a collapsing job position, they will be seeing a salary raise in excess of 2.4% thus creating a wash in expenses.

A problem yes, a catastrophe I don’t think so.

Frank, New York , NY/USA

First-time buyer? Here's my advice: Don't even think of buying right now! Hold your nerve for another few months while house prices plummet, then be ready to snap up the pieces!

Mr Willbee, Middlesbrough, UK

"Property prices are set to stagnate"

Stagnate? You mean like Wile Coyote hanging up there in mid air. Come on now, the chances of prices stagnating are as good as our having an endless summer! The long awaited crash has started and it's going to be one big bang. Better batten down the hatches for the fallout.

anthony, london, england

"That said, we still have a supply shortage, which should underpin prices over the longer term.”

That shortage will be balanced out by slowing demand, as no one wants to spend the amounts they now need to spend, when people are finally starting to talk of a slump. The buy-to-let crew, as well as the savvy ones sitting on a pile of equity, will also sell up and rent back a similar property cheaper, and add supply to the market.

I don't know about you, but in some of the places I've driven through, it looks as if the whole village is 'For Sale'.

Looking at the picture - inflation (oil and now soft commods), interest rates, the credit markets, and finally the most important, public sentiment - its good news for the housing market: affordable homes for those that have strived hard all their lives.

Luke, Tunbridge Wells, Kent

I can't believe that the rubbish about stagnation in the property market is still being printed. How much more evidence do the commentators need that a crash is alreay underway? Prices are already falling significantly (2.6% last month according to Rightmove) and that was before the full impact of the current credit crunch. I appreciate that those in the property business are struggling to protect their own livelihoods, but have a bit of self-respect, please. Spouting a property industry party line that all is still okay when the edifice underpinning the current property bubble is crumbling just makes me, as a reader, think that you see me a stupid. Not a good way to gain sympathy for your point of view.

George, Brighton, UK