Normally in the property market, if volumes fall, then price falls will quickly follow. During the credit crunch we saw volumes slip back by 50%, on average, while property prices fell by around 20% - although some areas performed worse and others better. In some recent market presentations, I was surprised to see how far transactions had fallen back versus previous years and I even spotted that in some areas, based on Land Registry data comparing volumes from January to October 2009 versus 2018, some transactions had fallen back as far as levels experienced in 2009.
