I doubt there will be a house price crash as such, more of a correction.
What I think will likely happen is lots of people will lose their jobs and subsequently their homes, the banks will tighten up lending even further so that 200k house you couldn’t afford at 5% interest rate and 20% deposit is now a 140k house you can’t afford at a 9% interest rate and 40% deposit.
So who will buy the houses? Same answer as always, the rich assholes with loads of cash. There will be a surge in house prices again, created by cash-rich buyers picking at the carcasses of shattered family dreams, until a kind of equilibrium is reached.
What will happen to the rest of the people? I would say if you own a house now and keep your job, you’ll probably be ok, unless you’re overstretched already. Inflation and a rise in the base rate will push many over the edge. If you don’t currently own a house, and you’re not loaded, you’ll probably be renting forever.
I hope I’m wrong though