Today's FT carries an interesting analysis of the state of play in the house price spread-betting market. There's been a shift toward optimism, apparently, with the spread reacting to betting and moving upwards. This might at first look like an indication of people responding to the recent rate cut and actually betting on price rises... but hold on:

Pete McDermott, head of options at IG Index, says the more positive outlook is mainly down to significant numbers of bears exiting the spread betting market.

"Our clients think house prices have stabilised a bit," he says. "Three or four months ago people were closing their positions and many were forced to swallow moderate losses as the downturn in reality was not as bad as had been predicted."

There's nothing like a relatively stagnant market to spoil a spread-better's fun. Elsewhere in the FT Friederike Tiesenhausen Cave (and if that isn't the coolest name...) writes about a sneaky little growth spurt at the top end of the London market. Apparently, properties in Kensington, Chelsea and Westminster are doing so well - partly from all that fabulous Middle Eastern wealth generated by the current oil prices - estate agents are daring to whisper the word growth. The full story on the other side of this link.