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