It's a great time to buy in the U.K.

edited April 2008 in Housing Bubble
Hurry up! You'd better buy a flat in London before it's too late.
buyers with access to large deposits had the chance to get their hands on property they could not previously aspire to. Last week, the Halifax reported a 2.5% fall in prices in March, the biggest monthly decline since September 1992 and the slowest annual growth for 12 years.

http://news.bbc.co.uk/2/hi/business/7346564.stm
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