What housing slump?

HOUSE this for good news? The property market isn't in as bad a state as you think.

And you HAVEN'T lost a fortune on the value of your home.

No, I'm not going crazy. Because recent figures that show asking prices have dropped 4.8 per cent in a year don't give depressed householders the TRUE picture. In some golden areas of the country, as our table shows today, asking prices are still RISING.

And even where they are down, that doesn't actually mean property VALUES have plummeted too. Confused? Let me explain.

Reality

Asking prices are based on what the owner thinks they might get for their home-and in the boom these became unrealistic as sellers tried to cash in.

Now reality has sunk in and so people have lowered their expectations. So the fact that prices have come down is GOOD news because it means we've stopped dreaming and all woken up to the fact that being realistic is the way forward.

The doom-mongering also ignores the gains we've made over the last few years. Economic experts at property market site Zoopla.co.uk say home values in England are now back to where they were 15 months ago.

This means they are still up £9,049 on average over the past two years and £23,059 on average over the past three years. So if you bought your home a few years back it's still increased its value since then.

And despite the recent market woes, prices in certain areas-from Aberdeenshire down to Dorset-are still thriving which shows there's still life in the market. Most industry experts expect the downward trend to correct itself within the next two to three years-so if you don't need to sell right now, sit tight. If you must move, think like this: OK, your property might not be worth what you thought it was a year or so ago, but, then again, whatever you're trying to buy won't be either.

It's just a question of looking on the bright side.

Ask Louisa

Q I'VE taken advantage of the summer to paint my radiators while they're not on. I've used specialist paint, but I can't seem to get rid of the drip marks.

COLIN, Dorset

A THE best way to paint radiators is when they are WARM. By applying your paint in thin, even coats to warm rads the paint dries quickly so it doesn't have a chance to drip. Clever eh?

Q I WANT to rent my house for a while then sell at a later date. Would I have to pay extra tax on the sale or be liable for capital gains tax?

RITA, by email

A FIRST, don't forget, you'll need to declare any rental you get from the property to the tax man! When you come to sell having rented a property out, you do need to bear in mind that you might have to pay Capital Gains Tax, although how much you pay depends on your individual circumstances, including how long you lived in the property yourself. Always get expert advice from accountant or taxation advisor. Find out more about renting a property at direct.gov.uk