Sixty-one per cent of viewers chose Mr Clegg as the winner after the 90-minute showdown, according to an immediate online poll conducted by Populus for The Times. That compared with 22 per cent for David Cameron, the Tory leader and just 17 per cent for Gordon Brown.

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The UK housing sector has been written off more times in recent years than would seem healthy. But there has yet to be a crash in house prices like the one seen in the early 1990s, when new house sales dried up and existing home owners became saddled with negative equity.

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London’s largest home after Buckingham Palace is to be created by Regent’s Park as a £100m + complex complete with a cinema, gym and swimming pool. The Large Regency terrace, which currently houses a row of seven office buildings, will be converted into a 10 bedroom stuccoed mansion.

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Homebuilder Taylor Wimpey (LSE: TW) turned in the best performance of the day in London as it added 3.9 percent on the 250, followed by fellow homebuilder Redrow (LSE: RDW), which added 3.43 percent. Also Taylor Wimpey West Scotland has revealed its first new showhomes at The Laurels development located just off Lindsayfield Road in East Kilbride.

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The Government is taking the action to expand lending to help revive the economy. It came at the same time as the Bank of England starting cutting interest rates in an attempt to reduce pressure on borrowers and businesses.

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House prices fell by a further 1.9% in November as activity in the market dropped again, says the Land Registry.This pushed the annual drop in property prices in England and Wales to 12.2% - the 15th consecutive monthly decrease.

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Residential lending was an estimated £14.6 billion, a 22% fall from October and a 51% fall from November last year. Mortgage rationing has left many borrowers unable to take advantage of interest rate cuts as lenders' margins on fixed and tracker rates have soared.

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House prices in November fell at their sharpest monthly rate since the housing market crash of the early 1990s. The nation's biggest mortgage lender Halifax said on Thursday.According to its latest survey, that increased the annual rate of house price falls to 14.9%, as against the 13.7% rate in the 12 months to October.

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Massive mortgage squeeze on new mortgage lending next year. Sir James is warning that as homeowners are paying off mortgages, banks are putting less money back into the housing market than they are taking out.

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National Association of Estate Agents said that for the second month in a row House sales rose slighlty. Its survey showed that the average estate agent sold seven properties last month, up from just six in September. sellers were now being more realistic and were cutting their asking prices.

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