Property market could take almost seven years to recover

House Buyer Bureau claims it could take the UK property market nearly seven years to recover when it comes to reversing a decline in house prices. The property purchasing specialist analysed house price data across the UK market in the lead-up to, and the duration of, the last property market crash. The research revealed that the property market peaked in September 2007, eight months before the recession hit. At this point, the average UK house price was £190,032 and it wasn't until August 2014 that the property market recovered and returned to this level. As a result, it took 83 months - almost seven years - for the UK property market to go full circle from the point property values started to drop until they returned to their pre-financial crisis high. 

Daily Express (11/10/2022)