Housing market worse than thought

Rightmove, the online estate agent, warned that house prices in the UK have fallen "far further" than official data suggest, reported the Independent. The company revealed that 300 agents were leaving it every month, suggesting things are worse than thought. While the latest figures from Halifax show that prices are down 15 per cent from the peak, Rightmove said that the falls were in fact "up to two-thirds higher". This 20-25 per cent drop from the peak "has not come out in the national indices". Rightmove is itself cutting a fifth of its workforce.