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Features Australia

Housing crash is now inevitable

Look at what happened 30 years ago

21 September 2024

9:00 AM

21 September 2024

9:00 AM

By 1989, the average UK house price had surged to 6.2 times average earnings from about four times just before the second world war. House prices had swelled because a 1947 law regulating building hampered supply and the financial deregulation of the 1980s created a lending frenzy amid a view that house prices, especially in London where the world flocked, could never fall.

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