KEY POINTSThe U.K. property market could be on the verge of a major downturn, with some market watchers warning of a collapse in prices of up to 30%.New homebuyer enquiries plunged in October to their lowest level since the 2008 financial crash, the latest RICS housing surveyors report showed last week.The U.K.’s weakening economic picture, coupled with increased borrowing costs and stubbornly high inflation, is putting pressure on mortgage repayments.LONDON — The U.K. property market may be verging on a major downturn, with some market watchers warning of a collapse in prices of up to 30% as data points to the biggest slump in demand since the Global Financial Crisis.New homebuyer enquiries plunged in October to their lowest level since the 2008 financial crash, excluding the period during the first Covid-19 lockdown, the latest RICS housing surveyors report showed last week.CNBC.com