Fears of a ‘massive’ global property price fall amid ‘dangerous’ conditions and market slow-down

• Property prices have climbed to dangerous levels in several advanced economies, raising the risk of massive price falls if markets overheat, according to the Organisation for Economic Co-operation and Development (OECD).

Catherine Mann, the OECD’s chief economist, said the think-tank was monitoring “vulnerabilities in asset markets” closely amid predictions of higher inflation and the prospect of diverging monetary policies next year.

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First-home buyers may benefit if foreign investors are affected by a global downturn in prices. Photo / Doug Sherring