The average home is now worth nearly £15,000 less than it was 12 months ago, which is the biggest annual fall since Nationwide began recording housing data in 1991. There has also been a 41% year-on-year fall in first time buyers. Maybe they're holding out for a bargain, this is already the ninth consecutive month of falls. Or maybe they just can't get a mortgage, no matter how many bankers' shoes they kiss. More here.

By guest blogger, Poppy Dinsey