Pretty unlikely property in general won't have a correction. Property and shares and economy and employment etc, etc are all tied together.
As already stated we are at 7 times average wage and history and most of the world tell us 3 times is sustainable. When the average person can't afford a property without massive debt, doesn't that tell you something.
Don't get attached to property (as per shares) they are an investment. Even your own home is an investment. Do some maths and work out whether it's better to rent an invest your money even at bank rates or to own.
Demand for housing may help so propert slides sideways for a decade. Won't happen, if you think so you're to young to remember it doing so many times before.
