Property & Mortgages

House prices to go down by 40 per cent due to Brexit and wage drop, experts warn

A leading professor at the London School of Economics has suggested property prices could plummet by almost 40 per cent.

The property market could collapse as prices reflect the decline in earnings, warns Professor Paul Cheshire, Professor of Economic Geography at LSE.

He said house prices can be triggered when wages fail to keep up with inflation – and last month inflation hit 2.9 per cent, while incomes grew by 2.1 per cent.

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