Sunday 17 September 2017 9:18 am

Is a UK house price crash coming? The majority of people think so, survey finds


I'm City A.M.'s award-winning technology editor, covering everything from happenings at Apple and Google to the latest London startup. In particular fintech, blockchain, artifical intelligence, driverless cars, virtual reality and the sharing economy get me out of bed in the morning. I'm always trying to illustrate stories with pictures of dogs. Sometimes with some success. I was named technology journalist of the year at the UK Tech Awards.

I'm City A.M.'s award-winning technology editor, covering everything from happenings at Apple and Google to the latest London startup. In particular fintech, blockchain, artifical intelligence, driverless cars, virtual reality and the sharing economy get me out of bed in the morning. I'm always trying to illustrate stories with pictures of dogs. Sometimes with some success. I was named technology journalist of the year at the UK Tech Awards.

The majority of people are expecting house prices to crash as concern grows around the property market.

A new survey by YouGov for the Sunday Times reveals more than half think prices will crash within the next five years. And almost a quarter say the same, but within just a two year time frame.

House price growth has slowed in recent months, though in locations such as London, prices remain high. The sluggishness has been blamed on a combination of Brexit uncertainty and stamp duty changes. And more than a third of properties in the capital have had their prices slashed.

Some economists have warned that the UK is heading for a house price collapse

London School of Economics professor Paul Cheshire has said we are due "a significant correction".

Others have predicted they will continue to flourish. Ex-Bank of England poicymaker David Miles has said prices are likely to remain high and even keep on rising over the next decade.

 

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