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This is a bit alarming! http://www.telegraph.co.uk/finance/economics/houseprices/7886145/UK-house-prices-not-set-to-recover-for-another-ten-years-says-PWC.html

Lots of this sort of stuff coming up, http://www.telegraph.co.uk/finance/personalfinance/7878766/House-prices-will-fall-in-2011.html Don't know if they are trying to prepare people, or the fact that it is being mentioned/assumed will make it less likely.

It's worth remembering thet the pound took a real pummeling these last couple of years, down 30 odd percent against the $Au for instance. So, your UK home may still be worth 1M, but the pound is more of a peso, so your nominal drops in property value are largely masked by the devaluing...