New ODPM figures - although, of course, slow to reach us compared to rival indices - contain an interesting detail. Today's figures date back to October - and they reveal a 0.3% fall nationally, annual house price inflation falling to 2.2% and actual, factual deflation (-0.2%) in London. It's safer to take the whole thing as stagnation. But what is interesting is the news that despite the slowdown in prices, things continue to get more difficult for the first-time buyer, who is paying 5% more than in 2004. Press this for Prescott's pdf.