Top housing market pundit and buying agent Henry Pryor has made a luncheon-fuelled wager that UK property prices could drop by 50% over the next ten years.
Speaking to well-regarded finance honcho/writer/comedian Dominic Frisby over grub at The Groucho Club, Pryor offered “an evens bet that in ten years’ time, house prices will be 50% lower than where they are today.” This “astounded” Frisby, prompting him to flaunt Groucho rules and record a podcast with Pryor there and then.
“I may well have been corrupted by the ambience of The Groucho”, admits Pryor, before justifying his position with gusto, arguing that availability and cost of credit (rather than housing supply) drives the housing market – and that it’s difficult to see that availability and cost getting any cheaper in the near-term…
Taking “a dispassionate view of the housing market,” Pryor asserts that “it’s reasonable to offer 50:50 on where house prices might be in ten years’ time.”
Listen to the full “Frisby’s Bulls & Bears” recording with Pryor here