House prices dived at their fastest rate since the crash in the 1990s during March as the credit crunch continued to take its toll on the market, figures showed.
Britain's biggest mortgage lender Halifax said the average cost of a home dropped by 2.5% during the month - the biggest monthly fall since September 1992 and the second largest drop ever.
Annual house price growth also slowed to its lowest level for 12 years, with property prices rising by just 1.1% during the past 12 months, meaning house prices are now falling in real terms on an annual basis.http://ukpress.google.com/article/ALeqM5h3JlXuuRlbItQToTVJgYR7rXpwSwThe UK property market is now about to follow its US counterpart into the toilet.
Expect falls of 30% plus in price before this is over.
I am afraid Mr 'No more boom or bust' will probably not be getting a second term as PM.