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There is now a sharp slowdown in the housing market with prices falling for the sixth month in a row. Figures show a decrease of nearly 3% in the last month, these figures will continue to fall each month as it becomes not just a slowdown but a continued decrease in house prices. This will be following the trend we have seen in America of falling house prices. Two main factors for a housing slump is when buy to let owners start trying to sell off their property portfolios and first time buyers, are not purchasing. This situation is happening in the UK, this is in part due to the withdrawal of many mortgages especially for 100% mortgages and the concern of the state of the housing market and general economic outlook. Anyone looking to sell will have to be very realistic with their selling price and accept lower offers. There are varying predictions of the fall in house prices for this year varying from 10% – 40% . The one certainty is that prices will fall steeply this year.