Thanks to a Rat and Mouse reader for pointing me in the direction of this. Apparently, Cantor Spreadfair have seen the number of punters gambling on the house price market double in the last two months. There are two elements to this story. An increase in trades does tend to suggest coming volatility... and there have been a number of recent reports into affordability that point toward a slowdown on 2008, maybe sooner. Fine... but what about the Cantor bookie broadcasting that he's "going short" on the market? Would you accept a tip from a bookie? And let this be a warning.
Some might say the housing market environment is somewhat different to Aug 2005 though. Due to several factors, not least recent events in the US, the national house price index now having turned YoY negative.