The UK residential market has dropped by 10% Not true.
This is merely the alleged experience of one mortgage lender.
In fact the average drop over 10 selected areas from Cornwall, through Blackburn to Peterborough, to date, has been 4% - a rather large difference.
The source for this statement is the Land Registry that records the sold price for every property in England and Wales. This source is clearly unassailable. Therefore why talk ourselves into a crisis that should only be a correction of an over-heated market?
When everybody is panicking and rushing to market perhaps the time is coming to switch into buying mode! The lemmings never fail to provide scavenging opportunities for the savvy market watcher.
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