Falling house prices may not be the ‘harbinger of economic doom’
Andy Mayer writes for CapX
Matthew Lesh featured in The Express
Matthew Lesh writes in The Spectator
“Many will treat lower house prices as a tragedy. (…) But let’s look at this with some perspective. Oxford Economics is forecasting house price falls of around 13 per cent across next year and the year after, taking the price of average properties to levels not seen since… March last year.”
Matthew did point out, however, that lower prices will not necessarily mean increased affordability:
“A drop in property prices driven by higher interest rates do not make houses more affordable. And just because buyers are paying less to purchase a home, does not equate to increased availability of housing.”
The full article can be read here.