Recently, there’s been lots of reports in the media that we’re in a very challenging economic situation. Either we’re heading for a recession (and time will tell about how deep we’ll go into recession) or we’re already in one.
Added to that, our political situation is dire - lots of change and party in-fighting, which is obviously destabilising the markets and panicking them.
There’s been a lot of speculation that this will all affect UK property prices, and it might lead to a steep drop in property prices over the next few years.
Now we’ve got a new Chancellor (who’s getting rid of the recent mini-budget and putting forward a new budget), I’m wondering what this is likely to mean for the economy? I think it will help to reassure the markets and therefore stabilise the economy, so I’m wondering if this will now mean we escape recession and a property price crash?
Obviously none of us can predict the future, and as we’ve seen, lots of change can happen in just a few short weeks and months. I’m just wondering what your thoughts are on this - do you think we can avoid a deep recession and big property price fall?
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To ask what the UK political and economic situation might mean for the property market?
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FourForYouGlenCocoYouGoGlenCoco · 17/10/2022 10:04
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