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“Credit crunch” has surely already topped the poll for most overused phrase of the year, beating off its nearest competitors “impending doom” and “we are all screwed”.

This has now been recognised by the good people at the Concise Oxford English Dictionary who have added a new definition of “crunch” as “a severe shortage of money or credit”.

Other new entries from the property sector include “non-doms” and “sub-prime” as well as the facebook definition of “poke”.

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