House prices fell in England and Wales by 7.3pc in the year leading up to October.

The fall has taken prices back to the lowest levels for over two-and-a-half years.

Have a look around your patch to see what’s happening to house prices.

Do you work in a very desirable area which is completely unaffected by the drop in house prices?

Or are local estate agents offering crazy deals to entice customers in because of declining sales?