ronin - 2:34 pm on Dec 1, 2007 (gmt 0)

If they drop next year I may wait a while - don't want to buy a house that's going to go down in value after all.

Right.

And that's precisely the mirror of the prevailing sentiment of the last few years: "Let's just go for it and buy a house, darling - they said that growth wouldn't continue two years ago and they have been proved utterly wrong. If we don't buy now, we could be priced out but if we buy we'll be onto a good thing."

After several years of house prices going up because they are going up... they are now going to go down because they are going down.

Hold onto your hats.