Will The UK Housing Market Collapse? Should you worry? HPI Reports By Halifax, Nationwide and ONS

The average house price in the UK was £290,000 in January 2023 as reported by the Office of National Statistics (ONS)
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In this video, you will learn about
- What has happened to housing prices in January 2023?
- What will UK house prices do in the next few months?
- What influences the UK housing market and when is a good time to invest in buy-to-let property?
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[@Simon-Misiewicz-US-UK-Taxes]

UK House Price Index (HPI) Reports - 26th March 2023 - ONS | Halifax | Nationwide Are you better to be a property investor or developer www.optimiseaccountants.co.uk/knwbase/property-investor-or-property-developer/ Need a buy to let mortgage? survey.zohopublic.com/zs/GuCCYx

[@noonrich336]

Still going to be a 10% drop that could lead to more over time. People can't carry on with Debt and cost of living crisis.

[@Simon-Misiewicz-US-UK-Taxes]

Looking at the reports provided by the charity, debts have not significantly increased in the last one year. Are you saying something different to what’s the charity has published? I agree with you about the cost of living but looking at the data it would suggest that people are foregoing luxury items as opposed to relying on debt

[@noonrich336]

@UK Property Tax Accountants - Optimise Accountants Hi thank you for your reply, I think Debt in General from Mobile Phone, Broadband, Council Tax, Credit Cards, Mortgages, Energy, Luxury Items Car Loans, food will be a luxury Item soon. Have all gone up in price. People are in debt with this on top is crazy. It's all about survival now. Living from day to day, like being in the 70s all over again.

[@Simon-Misiewicz-US-UK-Taxes]

I am sorry to hear that as it sounds as though you have been there before. Wishing you the very best

[@leemc4278]

Thanks for this. I have just sold my house at 1% below asking and will rent for a while and then buy again. Wish me luck!

[@Simon-Misiewicz-US-UK-Taxes]

Wishing you all the very best

[@brandonhitchings8540]

God i hope you didn't just gamble your house.

[@Simon-Misiewicz-US-UK-Taxes]

Time will tell. One thing o would say is that people are entitled to make decisions without being belittled.

[@cyberstud0074]

The govt data does not show the list price and sold prices in last month. The properties are getting listed at lesser price and then getting sold. A property listed for say £450k gets relisted at £425k and then £400k and when it gets sold at £395k the data seen is just -£5k price drop from ask price. Don't get fooled by this data.

[@Simon-Misiewicz-US-UK-Taxes]

However, as long as the data is consistent trends may be identified. The prices shown is average sold prices which is the comparisons being made rather than asking prices.