UK house prices can fall by 20% 'without causing distress'
UK banks have been stress-tested against a 30% fall in house prices and have proved resilient.
UK house prices could fall by as much as 20% without causing distress to most homeowners, Bank of England deputy governor Jon Cunliffe has said.
The Bank of England does not forecast property prices, but Mr Cunliffe told reporters that homeowners may see “the market falling back from the highs over the last two years” when cheap money and stamp duty reliefs during the pandemic sparked a mini-boom.
