House prices will come down (in real terms), for other reasons, such as an aging population and mass-immigration becoming less popular.

Housing costs tend to be combined (mortgage+price), so if interest rates go up, prices go down, and vice-versa. There's just a lag. 

 The sad thing is that there’s much needless suffering while we wait for the ‘right’ thing to happen. Patience is a virtue but it ain’t easy! 

 Any attempt to speed it up causes further distortions. 

 Tom over in SN agrees!

https://stacker.news/items/543188/r/halalmoney