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Careful you aren't talking yourself into a double dip...

It's official, house prices are dropping and as usual the media is having a field day. It's rubbish and we'll need to be careful that we don't talk ourselves into a double dip. Demand is still subdued because banks are not lending yet. This will be at least until after April 2011 when the Special Liquidity Scheme ends. Long term I'm not worried in the slightest though, we are seeing demand increasing slowly and surely, confidence is coming back and things are definitely looking up especially for the long term.