Drop in house prices.

[Pixxie7]

6 am news possible 65 per cent drop in house prices, when this is over.

Oh my. No surprise there’s a price drop but never thought it would be that much.

I think that's a predicted fall in the number of transactions, not in the average price. I've seen a prediction of a 20% price fall, which would be a lot!

No way to 65%, people still need to live somewhere, that hasn’t changed

Once this is over there will be a greater than expected number of houses going on the market that belonged to elderly people who will pass away. Inheritances will be passed down that will likely give some middle aged people money for deposits/ bigger deposits to move so the demand and supply around the market will change.

I read 65% fall in number of transactions, not fall in value. Obviously house prices will dip, but We don’t know how far.

Absolutely agree, I really didn’t believe it when I heard it just hope their wrong.
That’s all everyone needs negative equity.

It's not house prices, it's transactions - still not great but stop scaremongering!

Weekly house buying interest slumps 40% www.bbc.co.uk/news/business-52051174

Not scaremongering just repeating what I heard glad if I am wrong.

Phew. Had a look at the bbc article. Glad to learn it’s a slump in the amount of sales / transactions rather than property values. Fairly certain though that property prices will fall somewhat (owing to the fact that prices are somewhat tied to the state of the economy) but hopeful not a fall by that amount.

You misheard, it is a predicted drop in transactions, issued by a property website.
The market is effectively paused as no one can view, or survey for valuation/loan purposes and removal companies cannot enter properties. When lockdown is over it will start again. Who knows what will hapen to prices.

Thank god for that sorry everyone.