House prices remain wildly over-priced: 29% against the long-term relationship with rents, some 50% against the long-term average against wages. They will fall, but probably not this year. Why? Because the drastic anti-recession measures still have plenty of gas in the tank.

Interest rates are predicted to start rising next month and rates on fixed-rate mortgage deals are tumbling as lenders embark on a new price war. Now could be the best time in history to get a fixed rate mortgage!