According to a recent survey 1 in 8 homeowners expect their house to fall in value during the next 12 months. This is despite 5 months of upbeat market reports from mortgage lenders and even the land Registry.

Confidence is lowest in the Midlands and Wales but even in more affluent London just over 50% think prices will rise with 31% expecting them to stagnate.

The latest Hometrack survey which is conducted amongst 6,000 estate agents and surveyors suggests that price increases were restricted to just 11% of the country – primarily in the south east. Across the rest of the UK, prices remained level.

The constant talk in the press about “green shoots” appears to be centred in the south east and amongst those in whose self interest is served by price rises. Hello Mr estate agent!