House prices dropped more than was expected this month, falling 5.3 per cent compared to August last year. The value of the average home in Britain has, on average, fallen by £14,600. This marks the biggest annual decline on record since the financial (and housing) crash of 2008/9. So, is a housing crash imminent? Could we be seeing one right now?
There are a few reasons to be cautious about the data.
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