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The past 12 months has been a rocky time for house prices. The personal finances of many buyers and sellers have come under great strain from rapidly rising interest rates and inflation. Global inflation hit 8.7pc in 2022 dropping to 6.9pc in 2023, according to the World Bank.
In Sweden, the property market has crashed. It's the same story in Australia, Denmark, New Zealand and a host of other countries. So what about the UK?
The German housing market has been strong for decades, but economics have some concerns.
Claudia Buch, vice president of the Bundesbank, told CNBC there had not been a reversal of the “overall dynamic” in the housing market.
By John O'Donnell