The house I sold last summer is now presently on the market for 15% less than what they paid for it. It's been up for sale for around 5 months. I'd like to claim I saw the iceberg ahead and that's why I sold-up, but I can't. It was sheer good fortune.
50% seems over the odds. Certainly the houses I'm currently looking at are not more than 10% less, but the words 'guide price' is used quite a bit these days. I get the impression many are in denial.
I'm just hoping they fall 50%, so I can get a really good deal. Steer clear of flats on big estates, or in the centre of a city is my advice.