PROPERTY market crash could see prices of property for sale could plummet to £70,000, experts warned last month. Now a property expert has given the latest news and updates on whether a crash is possible. A crash could take nearly eight years to recover.
Property news revealed recently that a crash could see house prices drop to £70,000 in some regions of the UK.
Predictions of a crash have caused shockwaves in the property market.
As house prices are starting to flatten, home owners are fearing that their investments will not come off.
A property market crash could see house prices fall to £70,000 in Northern Ireland, and would take seven years and seven months to recover across the country, experts are claiming.
Another property expert has weighed in to give his view on the currently somewhat unstable British property market.
David Hollingworth from mortgage broker London and Country said: “We are still seeing some conflicting data.
“It definitely feels as though the tide is starting to turn in terms of house price growth.”
He confirmed that house prices are beginning to level off after years and years of growth.