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.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Getting Money Wise. The information provided on Getting Money Wise is intended for informational purposes only. Getting Money Wise is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.