Since Google got access to the older "Keyhole" satellites , they can get pretty good images but not exactly live as the satellites would have to be overhead of your area at the time so there will always be a delay. The Keyholes are older satellites and won't provide "live" images to the public. Pretty close sometimes though.
Not live. I just had a play with my own address and see that the street view was updated in May this year (previously 2008). That's Chez Didge hiding behind the trees at the far right.
The aerial view has also been updated. The white patch on the tiles at the rear of the house has been there only about three years. We had a solar hot water system installed on the roof and, in 2012 it broke through the tiles and we had to have it removed -- hence the albino tiles where it had been.
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