31 Aug WHAT IF PROPERTY PRICES WERE TO FALL BACK IN 2023?
We are not expecting this to happen, but the event that it did it would be a temporary phenomenon. House purchase is a medium to long term project and it is highly likely that inflation in prices would return, before you come to sell. This awful war in the Ukraine will not last for ever, the writing is on the wall for Russia and the West has learned the lesson not to rely in future on Russian Gas.
Even if you needed to sell in the short run, any drop in price would be relatively modest and if you were buying as well, you would be paying a commensurately lower price for your purchase.
Always keep in mind that residential property, at any price level, is the best non-speculative investment you could possibly make. There will always be fewer properties than demand seeks and any investment in improvements will be handsomely rewarded in a future sale price.
Finally, any increase in value, however great, is still not subject to tax