In amongst the pundits and indices mixing it up with contrasting opinions on house prices of late, the RICS has waded in with an announcement today that IT thinks that prices are slipping.

Further reason to ignore the 'experts' and, whether buying or selling, just get on with it :-)

What works, the carrot or the stick? With regard to new housing it seems that we will soon see which one is most effective.

The previous Government believed in targeting each local authority with a specific number of homes that they were expected to ensure were built. Regional decision makers wielded the stick and would financially penalise local authorities for non delivery. A tricky approach when it is not the council themselves submitting the applications or owning the land. Some may argue that such an approach lends itself to shoddy planning and inappropriate decisions.

The new coalition administration has very recently unveiled an opposing attitude to building in that it proposes to pay monetary bonuses to councils that build more homes. An incentive that can be used for whatever Councillors decide is best for their communities whether reduced council tax, new facilities etc.

The Home Builders' Federation has today welcomed the news as a step in the right direction.

The Bank of England held interest rates at 0.5% yesterday. Great for mortgage payers.

The Nationwide Building Society have already responded this morning by cutting their fixed rate and tracker home loans by between 0.2 and 0.3%. Their biggest cut is on 85% loan to value deals, assisting those with smaller deposits.