Everyone, lets take a precise look at how average uk property prices have gone up and down over the last 30 years. The website below has put the data into a graph
if you look at the graph at the top of the page you can see that the UK market will probably drop another 40% from current levels over a period of say 2-3 years. If previous property slumps are a guide, then you will have a period of 6-7 years where the market remains slumped. Then the market takes off slowly on another ‘boom to bust ‘ cycle.
Although I do no necessarily advocate this solution, the government may need to think about taxing all profit (but allowing for inflationary growth) on the sale of a house. This could smooth the market which would be in the long term interests of those in the industry