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.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.