Economists overseas predict 10-20% House Price Falls – Reality or fiction?

October 3, 2018

My morning browse through videos on Youtube, that is what appears on my timeline that they assume I’ll be interested in viewing, brought up not only negative news in my world of football (Manchester United vs Jose Mourinho), but also a line of negative news in the world of property. One such video from ABC News (Australia) title ‘The Big Chill‘ drew me to view it as it was focused on real estate and house prices predicted to fall between 10-20%.

I haven’t for a while looked at property outside of Europe to note what is happening elsewhere in the world, though it would appear from watching the above video that Australia in many regions are bracing themselves for a fall in real estate value – A disaster for many investors and a big lifeline to genuine house buyers. It would appear that the effect is being seen at the top of the market mostly and that some areas are seeing falls, others a slight rise and many are just remaining flat.

Without question, globally and certainly in the UK, property prices are out of reach for many people searching for a home to live in over a property to make money from, many predict a slow down and decline of property prices in the UK following Brexit – national press remain split on this subject with many publications often expressing stories both for and against price falls. It happened in countries such as Spain and Ireland not so long ago so it is not a fictional story that property markets can crash, though Australia’s property market knife edge situation is said to be due to that fact that many hold interest only mortgages (sure it is still the casein the UK too) and that these loans will start to push out to principal plus interest options thus increasing for many monthly payments.

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

LIVING BY THE SEASIDE 2022
Breaking News

COVID five years on: City and coastal trends reverse as homes by the sea take longer to sell

Rightmove’s new report looks at how the market has changed five years on from the pandemic starting Many city and coastal trends have now reversed, with homes near the sea taking three weeks longer to sell compared to 2020, and the majority of buyers in the capital looking to stay rather than leave London A…
Read More →
Estate Agent Talk

What it takes to make real estate development financing work

By Daniel Austin, CEO and co-founder at ASK Partners Securing financing for real estate development has become an uphill battle. With interest rates still elevated, inflation pushing construction costs higher, and planning delays introducing further uncertainty, developers face a challenging environment. Traditional lenders, constrained by regulatory pressures and rising risk aversion, have scaled back, creating…
Read More →
Home and Living

Signs Your Roof Needs Professional Repair: Don’t Ignore These Red Flags!

The roof of your home is one of its most vital components. It serves as the first line of defense against the elements, shielding you and your family from rain, snow, wind, and UV rays. A sturdy roof also enhances the energy efficiency of your house, helping to regulate temperature and reduce heating and cooling…
Read More →
for sale sign london
Estate Agent Talk

Cheap Local Estate Agent

How much is the average estate agency fees in England for 2025? The figure of 1.42% (including VAT) is the average estate agency fee in 2025. This average fee for selling your home can vary with figures between 1% and up to 3.5%, there may be some lower and higher too. How you are looking…
Read More →
Estate Agent Talk

The Future of Real Estate: How Technology is Revolutionizing the Industry

It is also evident that the real estate industry is going through a lot of changes mainly due to changes in technology. Technology is changing almost every aspect of the industry and this includes the purchasing, selling, and advertising of properties. Consumers need a more efficient and enhanced form of transactions, real estate professionals must…
Read More →
Breaking News

Halifax House Price Index – Average UK house price falls in March

• House prices fall by -0.5% in March (vs -0.2% in February) • Average property price now £296,699 (compared to £298,274 in previous month) • Annual rate of growth remains at +2.8%, unchanged from February • Northern Ireland sees house prices rise at fastest pace (+6.6%) Amanda Bryden, Head of Mortgages, Halifax, said: “UK house…
Read More →