Rightmove = asking prices
The land registry show some areas falling -2 to 3% add ‘real inflation of say 5% to this and you have real fallls of around 7 to 8%.
Don’t forget the stats are lagging indicaters. Florida has only fallen 10%? ye’h right you can buy property’s today at 30% below peak!!!
And the last time (89 to 1994) prices in the UK only fell 17%? ye’h right, but if you drew a line across the country all property south of Yorks/Lancs fell 35% and propert often took up to 3 years to sell and in many cases was sold 50% below peak prices.
Every one under 40 has only seen Low/falling i/r, rising prices and ‘stable inflation’. Therfore many don’t understand the risks they have taken. The market will out!