📉 25%? 10%? How house prices could fall, according to experts
argues that higher interest rates could reduce the house-price-to-earnings ratio from its 2022 peak property prices fall from being 8.9 times a household’s income to 5.6 times. This is a level not seen since the turn of the century.
Property commentator Henry Pryor said that while nobody knew for sure what would happen with prices, his own expectation was that “in five year’s time prices will be back where they are today”. Some commentators have suggested falls even greater than 25 per cent are possible though. Housing commentator Charlie Lamdin has previously said prices will fall by 35 per cent over a period of two to three years.For those who own houses, a house price fall can mean that their asset is worth less than the amount they paid for it.
The Resolution Foundation report has said that falling house prices will benefit prospective house-buyers.
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