House prices aren't slowing. Crazy prices round my way and they're being bought.
The government plan to build a million houses isn't the answer. The rational behind it is to provide more supply than the demand and thus prices drop. All that will happen is we end up with a massive over supply of empty houses bought up by foreign investors. There are tonnes of empty properties already anyway, both houses and potential housing in empty office space. Affordable housing is nothing of the sort and developers only have to allocate a small proportion as affordable anyway and wont build unless they can build the rest as luxury homes.
The only way for prices to come down is for inflation to shoot through the roof forcing interest rates to do likewise, a lot of negative equity and a big crash.
Brexit may have an impact on many things, but can't see any impact on housing. As said, the housing shortage isn't about an excess of people and not enough property, it's a lack of affordable housing to buy. Hence the desire to oversupply to control prices. So kicking Johnny Foreigner out of the country won't make a difference.
