It would be naive to rule out the possibility, but the evidence points to house prices dampening rather than tumblingNationwide says UK property prices have slowed for the third consecutive month and most recently from 11.2% in May to 10.7% in June. The slowdown in growth can be traced to the beginning of the Russian invasion of Ukraine and an escalation of Britain’s cost of living crisis.Unsurprisingly, property owners ask whether a crash is on the horizon, especially now that the economy is heading into a downturn, and possibly a full-blown recession. Adding to the gloomy atmosphere, Bank of England officials, seemingly immune to the prospect of a slump, have begun to raise interest rates. Continue reading…
Source : theguardian.com
Read more…The signs are that Britain isn’t heading for a property crash | Phillip Inman
