Falling House Prices Have An Upside

1. First-time buyers benefit. Falling prices make housing more affordable for first-time buyers, as long as they can save up a deposit.

2. Fewer annoying adverts. You will see fewer advertisements featuring annoying perma-tanned property moguls selling "how to become a millionaire overnight, like me" seminars.

3. You can move up the ladder for less. Is now the time to snare a bigger pad?
4. Less confusion in the mortgage market. There was once a time when the average mortgage borrower had about 5,000 deals to choose from. That figure is in the hundreds now, it does make life easier.

5. Divorce rates could go down. Property market experts say that declining prices mean married couples are more inclined to stay together. As house prices rise, home-owners feel wealthier and the supposition is that they also feel able to afford to get divorced.

6. No more fear of the unknown. When prices were rising, we were plagued by niggling feelings that it all looked too good to be true and that the market must be due for a fall. Now the fall is happening, we are at last free from this paranoia... until prices start to rise again.

7. Survival of the fittest. Only the best and strongest estate agents and mortgage brokers will survive.