October 2004 - Figures released by the Office of the Deputy Prime Minister show that the average price of UK housing fell 0.1% during the months of August and September. These figures appear to be in line with those suggested by the UK's two largest mortgage lenders, the Halifax and Nationwide.

This news will be analysed closely by home owners and others with an interest in the UK housing market. Many are wondering how long prices will fall for, and down to what level. At the present time, many analysts are suggesting that their will be a soft landing, meaning that there is likely to be steady fall, rather than a house price crash.

Observers feel that the figures released by the ODPM tend to be less reliable than those from the Land Registry (as reported in our housing market latest report), as they don't include up to 25% of house purchases. Nevertheless, they appear to confirm the general trend that is being reported from varying surveys at this point.