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This is the third in my series on the prospects for the Housing Market in England and Wales in 2009. You can see my previous commentaries here for Spring and here for Summer.

Now is the time to reflect and predict what will happen over the next few months.

The Good News:

Reassuringly, the doomsday scenarios of further falls in house prices of between 10% and 30%, which some commentators were predicting at the beginning of the year, have evaporated.

What we have seen over the past few months is steadily increasing house prices, measured by both the Halifax and the Nationwide Building Society monthly indices.

But the picture is far from universal; London...

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