At least 5%. The amount people have been pushing and paying over the odds with the inevitable recession that was delayed because of covid intervention means many people will struggle to keep up with payments with the assets shitstorm of cost of living.
Edit: regarding the drop for the value of the property, the value for them isn’t the issue it’s affording the payments leading to selling leading to people holding off buying cycling the house price down. But then it though shit was hitting the fan during covid and the house I was going to buy back in the March of covid is now over £100k more. 5% drop would be nothing.
I hope they fall by at least 25%, prices been too high for too long.
These ‘experts’ are always wrong. Nobody knows what’s going to happen with the market, particularly as the government tends to step in when things slow down.
I’m gonna go out on a limb and suggest house prices won’t fall unless either 1) we find ourselves in a protracted recession or 2) the government builds social housing (or buys back from the private sector to make up the shortfall) at a significantly increased rate. Out of these #1 is significantly more likely than #2, which is worrying.
Can’t wait for the boomers in 3 years with 2 houses, 3 BLT and a holiday home to RREEEEE over this. Meanwhile I still couldn’t afford a flat.
5%? In the past 12 months they’ve gone up by 15%. People near me have been accepting offers 10% over the asking price.
5% is peanuts and won’t help anyone. And it’s just a guess so probably won’t happen anyway.
Today in things that won’t happen.
We are currently not even building enough for the current population growth let alone those that own multiple houses.
If house prices start fluctuating it’ll just harm would be buyers and current owners by either making it harder to get a mortgage or push those with a mortgage into negative equity.
We’ve been on this roller coaster for too long and there ain’t a non painful way to get off.
Oh that’s awesome news. Now I’ll only have to save up 10 times my annual salary instead of 11 to get on the property ladder! 😀
And when it happens in 2 weeks, we’ll reassess.
Even if it did happen it’ll mean sod all in reality. Shame we’re not like other countries where older houses actually depreciate as the regs and tech have never on and newer houses are more desirable.
Unfortunately so many new builds are just shit and that creates a stereotype that all new builds are shit. Which isn’t always the case but nonetheless.
Either way, houses treated as investment is the biggest issue, your bricks and mortar shouldn’t be worth a damn penny more than you paid for it beyond inflation. Unless you’ve physically altered the building with expansions or updated the tech then it’s not worth more. Owning It for 6 months then flipping it for an extra few 1000s is b.s.
I would of thought population v new houses built = prices.
13 comments
At least 5%. The amount people have been pushing and paying over the odds with the inevitable recession that was delayed because of covid intervention means many people will struggle to keep up with payments with the assets shitstorm of cost of living.
Edit: regarding the drop for the value of the property, the value for them isn’t the issue it’s affording the payments leading to selling leading to people holding off buying cycling the house price down. But then it though shit was hitting the fan during covid and the house I was going to buy back in the March of covid is now over £100k more. 5% drop would be nothing.
I hope they fall by at least 25%, prices been too high for too long.
These ‘experts’ are always wrong. Nobody knows what’s going to happen with the market, particularly as the government tends to step in when things slow down.
I’m gonna go out on a limb and suggest house prices won’t fall unless either 1) we find ourselves in a protracted recession or 2) the government builds social housing (or buys back from the private sector to make up the shortfall) at a significantly increased rate. Out of these #1 is significantly more likely than #2, which is worrying.
Can’t wait for the boomers in 3 years with 2 houses, 3 BLT and a holiday home to RREEEEE over this. Meanwhile I still couldn’t afford a flat.
5%? In the past 12 months they’ve gone up by 15%. People near me have been accepting offers 10% over the asking price.
5% is peanuts and won’t help anyone. And it’s just a guess so probably won’t happen anyway.
Today in things that won’t happen.
We are currently not even building enough for the current population growth let alone those that own multiple houses.
If house prices start fluctuating it’ll just harm would be buyers and current owners by either making it harder to get a mortgage or push those with a mortgage into negative equity.
We’ve been on this roller coaster for too long and there ain’t a non painful way to get off.
Oh that’s awesome news. Now I’ll only have to save up 10 times my annual salary instead of 11 to get on the property ladder! 😀
And when it happens in 2 weeks, we’ll reassess.
Even if it did happen it’ll mean sod all in reality. Shame we’re not like other countries where older houses actually depreciate as the regs and tech have never on and newer houses are more desirable.
Unfortunately so many new builds are just shit and that creates a stereotype that all new builds are shit. Which isn’t always the case but nonetheless.
Either way, houses treated as investment is the biggest issue, your bricks and mortar shouldn’t be worth a damn penny more than you paid for it beyond inflation. Unless you’ve physically altered the building with expansions or updated the tech then it’s not worth more. Owning It for 6 months then flipping it for an extra few 1000s is b.s.
I would of thought population v new houses built = prices.
I’m not an expert though so who knows.
Add a zero to that and we’re talking