The prices demanded by sellers putting their homes on the market have fallen for the first time this year, in the latest sign that some of the heat is coming out of the UK housing market.
Soaring house prices are likely to outstrip pay rises for at least the next five years ad possibly for decades to come, the government's official forecaster has warned.
The Bank of England's new deputy governor has signalled that an interest rate rise is edging closer after telling MPs the amount of spare capacity in the economy is lower than the Bank predicted in May.
The Bank of England signalled that it would not impose draconian measures to cool the housing market unless house prices rise by more than 20% over the next three years.
Britain's 10 million mortgage payers have been warned to ready themselves for dearer borrowing costs after a Bank of England policymaker said stronger-than-expected growth meant the era of ultra-cheap money was drawing to a close.
More than 1.76 million people joined the ranks of the global super-rich last year as stock-market gains and soaring property prices swelled personal fortunes worldwide.
UK house price inflation has hit a four-year high, according to official figures that will intensify the debate about whether policymakers need to take steps to cool the market.
The debate about house prices is reignited on Mondayamid claims by Britain's biggest property website that prices for homes have come "off the boil".
It was a deal that stunned London property circles.
George Osborne has conceded that a housing bubble remains a threat to the recovery following comments by the International Monetary Fund (IMF) in its annual appraisal of the UK economy.
Fulham properties, with no planning permission, join the 'crazy prices' auctioneers are achieving in parts of the capital
They have panoramic views, iris recognition in the lifts, and a 24-hour concierge who will stock the fridge with champagne or charter a private jet.
The governor of the Bank of England has issued a blunt warning to potential home-owners that they must be able to pay their mortgages when interest rates go up and not rely on being bailed out of any future difficulties by rising house prices.