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Stock markets this side of the pond have reacted very positively to this impressive news and many of the other European indexes have followed London’s lead. These surprising results were a massive boost to everyone and the firm belief is that we could be through the worse of things.

I must say that I am by no way a house price expert; I am in fact involved with offering a stuttering therapy service as well as other business interests including DVD replication and about how to become a foster parent.

Governments from around the world have acted swiftly in this current global financial crisis; stimulus packages and interest rate cuts have been introduced in an effort to get the economy moving and these positive actions seem to have done the trick - good effort and good work I say.

The FTSE 100 index on the UK stock market has risen over three percent on the news and there is a confidence that it will rise further. All of the other European stock markets have also risen sharply and the hope is that the Dow Jones will also join in with the party when it opens later.

The word and general opinion coming from those “in the know” is that this could be the start of a much awaited house price bounce. There are many people in the country who want to buy a house but have been unable to raise the capital or obtain a mortgage. It is starting to become a lot easier to obtain a mortgage, well at least in comparison to the last six months. This of course should help people to buy and sell houses.

Before everyone becomes too excited and starts to spend all of their money thinking that the happy days are here again I would wait a while; there may well be further bad news around the corner. It has to be said that patience is most certainly the key at this stage.