From the man down the pub/on Twitter to major lenders and think-tanks, homebuyers and sellers can barely move for so-called experts dishing out advice on the property market.
Rising interest rates and increased mortgage costs have prompted fears of a house price slump, with Capital Economics predicting a 5 per cent drop over the next two years. Credit Suisse is forecasting that prices could fall by as much as 15 per cent if interest rates hit 6 per cent – making it more of crash than slowdown.
Buyers don’t want to make a major purchase at the top of the market, and sellers may be hesitant to list if they aren’t going to get what they feel is the best price. But while downturns are obvious in hindsight, it’s not always so clear when they’re actually happening. So how do you know if you’re in one?
It is easy enough for investors to spot a stock market slump.
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