Rates cut to 2%

[A Place of Light]

Originally Posted by Mark

Oh, I'll not forget that (A-level Economics student). If only it were that simple - there's plenty of housing supply, and up until recently there was reasonable housing demand, but that all means squat if there's no supply of loans to make it happen.

Right now if you have cash in hand you're in a bloody good place to snap up a bargain. Some prices have come down by around 7% in the last week alone.

I think it depends what price bracket you look at, as to how much prices will go down.
A 90k flat isn't going to drop by 30k (circa 30%), but I've seen 400k houses recently have 100k slashed from their sale price.
Sadly, once again it's the prudent who are carrying the can for the reckless.