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It will for rentals, if supply is static but demand decreases prices will go down.
by cmdrfred 11y ago
It will for rentals, if supply is static but demand decreases prices will go down.
- onion2k 11y agoNot necessarily. If landlords would rather keep their property on the market in the hopes of getting a higher rent price than lower the price then the price will remain static. There'll just be more un-let, empty properties. In the UK this happens a lot because property tax (council tax as it's known here) is discounted on an empty property, so there isn't much incentive to fill the property at a lower price. The economics of the property market are weird.