And they're still hugely inflated compared to a couple of years ago, while wages are either constant or significantly lower in real terms.

The price-to-earnings ratio is 9X in London and around 5X in the rest of the UK.

Property speculation is always ten steps forward and one step back. Prices in the UK would have to crash by at least 50% to return to any kind of widespread affordability.

> Over what period?

At least 2-3 years, anything less is too small a sample size. You could be highlighting a 10% decline after a 200% increase.