Henley Standard:
Prices hit a high, but is crash coming?
9 October 2017
It seems things are slowing down. And two distinct camps are emerging: the “priced out” generation, who are hoping a crash will lead to house prices they can afford, and the “propertied” generation, who are worried a crash will bring the whole UK economy crashing down. But does either camp have anything to worry about? It’s hard to tell, since the experts also for their part appear to be in two different camps.
So while Paul Cheshire, a professor of economic geography at the London School of Economics, has warned that prices could fall by as much as 40 per cent in the near future, Russell Galley, managing director at the Halifax Community Bank, had this to say: “Recent figures for mortgage approvals suggest some buoyancy may be returning, possibly on the back of strong recent employment growth, with the unemployment rate falling to a 42-year low...“House prices should continue to be supported by low mortgage rates and a continuing shortage of properties for sale over the coming months.”
Related links
http://cep.lse.ac.uk/_new/publications/author.asp?author=cheshire