A recent survey of property experts by the Daily Telegraph in London showed the UK house prices will be their lowest ranging from last week to May 2010.

The mid-point is in seven-and-a-half months time, Sep. 16, 2009.

Here in Toronto we have estimates from several different sources like the Canadian Mortgage and Housing Corp. to the Canadian Real Estate Association, all using different statistics that result in varying percentages and dates for the bottom of Canadian Real Estate.

Even Stock Brokers and Investment analysts advise on Toronto's and Canada's Real Estate turning point so perhaps we should do the same as the UK property experts, establish a mid-point for the Canadian Real Estate bottom.

According to the UK Nationwide building society the average home has lost $53,900 in value over the past year with prices again falling from $325,000 in January 2008 to $270,00 now.

Prices in the UK have tumbled for 15 consecutive months with the Real Estate market hit by credit shortages, rising unemployment and homeowners expecting prices have further to fall.

Are London Real Estate sales set to revive?

Only time will tell and hopefully soon.