House Prices have crashed over the last few months. Were prices overinflated, leading to a correction in the property market. Or is it that the UK economy is in real financial trouble?
The property market had been flourishing for many years and many people thought that the good times would continue for the medium to long term.
We know that many people thought London house prices would continue to increase as London is apparently a strong, international economy. The increase in demand for property would fuel the increase in house prices, even if the rest of the UK economy declined.
All good things must come to an end and this holds true with the property market.
Most people believe that the house price crash is more than a correction in the market and the UK economy could fall into recession.
Is now the right time to purchase a house or will house prices continue to drop to much lower levels?
Please watch this video and share your thoughts on the house price crash: