Housing prices are unlikely to significantly decrease until there is a substantial increase in housing supply. In the USA, there's a shortage of millions of housing units, and construction isn't keeping pace. The constant demand for housing, coupled with population growth, means that even a slight price drop attracts numerous buyers who quickly absorb the available supply. I'm considering purchasing affordable houses in 2024 and possibly venturing into stock investments. When is the best time to enter the stock market? Some people say it is profitable, but others say it's risky. Any advice?
Consider investing in stocks especially during a recession. While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you're cautious. Just remember, this is not financial advice, but it's a good time to think about buying stocks since having cash on hand isn't always the best option.
You're right! With the help of an experienced coach, I made some changes in my investments. I started with $321k, and now I have more than $750k by investing in stocks, ETFs, and bonds. I think housing prices won't go down much until there are more houses available.
The decision on when to pick an Adviser is a very personal one. I take guidance from ‘Amanda Kathryn Sachs‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I appreciate the information. After conducting my own research, it is evident that your advisor is highly skilled and knowledgeable. I have reached out to her via email and scheduled a phone call. I am impressed by her expertise and eagerly looking forward to our conversation.
Just bumped into a couple today in Eastbourne who are trying to sell their house in Kingston, it was worth £800,000 two years ago, now they can’t get £700,000 for it, they are getting offers of £670,000 to 680,000.
@@RabJ208The government will spring into action and incentivise would-be shed buyers with a subsidy on new lawn mowers and watering cans in the 6 March budget announcement. You heard it here first 😁
Normally I do a search every day on RM within a 10 mile radius of where I want to be and usually there are 8 to 10 new listings each day. Yesterday, Boxing Day, there were 84 new listings! My eyes popped out of my head.
Honestly, I envy your level of hope when using the word "crash". Im waiting till the end of 2024 and if nothing moves I'm out of the UK. How are people so happy to overpay for decadent houses?
That's a good plan! Here in the SE, a 3-bedroom shithole semi that wouldn't classify as a "house" elsewhere in Europe let alone the US, will cost you around £600K. Do you want to spend your whole life paying for 80sqm of damp crap, while you can possibly work remotely in Spain and get the same money?
Same for me! I keep watching these videos thinking ah... Here we go but things are still unaffordable by your self when you take all costs into account. I remote work anyway and just starting to think in exactly the same way, may as well be in a place where I can actually enjoy myself rather than earning just enough to live in the uk
@@jonathanevans5453It's not such a big step. Once you make it, you start seeing how much better life can be outside the UK, earning a UK salary. I'm still stuck here on a six figure salary, but they may relax their remote policies...
I got a small holding (house 200sqm, garage 90sqm, barn 120sqm and a large wood shed)plot is4000sqm in south east Sweden. It's about 40 miles from a big city for work. Wages same as uk. £250 -300k for that.... a nice detatched starts at £100-150k no crime and it does get hot in the summer! I like spain but its just to hot and not much work.
This is where house prices are "crashing" the most in the UK: Portsmouth down 2% Bournemouth down 2.6% Southampton down 2.3% Bristol down 1.5% Cambridge down 2.3% Aberdeen down 2.4% National average is 1.3% down
BoE and NIESR both say house prices in the UK will fall 2-4% in 2024. Not what you would call a house prices crash. Prices vary region to region . A simple Google search will tell you all you need to know about house prices in the UK.
You video come across again!!! Your wishful thinking of house crash report for good few years now but unfortunately is not gonna happen as bad as you wish!! I really admire your relentlessly saying house market is gonna crash but unfortunately there isn’t enough chemistry for a house market to crash .
BUT how many of these are the same houses that were taken of by agents at the beginning of December and have just beed re-listed as new properties. In Dorset and Wast Devon this happens all of the time.
Gotta say I've looked at a variety of housing over the last few years as I've toyed with the idea of moving to a larger property. Few things I've found: 1. New build homes made by large homebuilders tend to cut loads of corners and use cheap substandard contractors. Think leaking pipes, dodgy electrics, turf laid straight onto builders rubble, wonky walls, leaking glazing etc. 2. The much revered "quality built council house". What utter shite! Lived in Ireland for 6 years and build quality (and builders I worked with) were 100 times better than the shite here. 3. Local builders who build small scale developments (think 15 houses or less) often make a much better job of their homes. But even then, give it 10 years and you start seeing issues.
I hope HPI can be categorized into 5+ bedrooms， 4, 3, 2 br houses, the same for apartments. Average prices dont show you the real oictuee, especially when downsizing is common now.
Can`t wait for those coming out of fixed rates in 2024 and having their mortgage double or triple , no wonder someone on 50k could have afforded a 350k mortgage with 1% interest . We have a household income of about 85 to 90k and to buy a house that is over 300k for me is scary to be honest . We are renting for 1.025 a month for a 3 bed semi and the average house in my area is about 280-320k but to afford a decent sized house that has no issues is over 350k so I will just wait a bit more or just invest my deposit in an ISA .
It's all out of control. I've just had a £780 electric bill fall on my doorstep, my van quote for insurance has gone from £1200 to £2400! My Christmas shop at Waitrose was £475. Its game over for the middle class.
@SycAamore pretty eager to move as I have a little one and need more space. I have a decent deposit so not too fussed if prices decline another 10% after I buy, been through it all before in 08. I won't overpay or get into any bidding war, I'll make my offer and if vendor doesn't accept it, I'll happily walk away. Its difficult to predict the bottom, I think rates will drop end of 2024 but with 1.5m people coming off super low rates in 2024 and onto a higher rate the falls could be compounded by this.
@@nsoul4296 How will you know you are not overpaying? Why not rent the same property and wait till 2025? I'm sure it will be cheaper than your mortgage. Financially you will be better off and you will be sure you are not overpaying when the market finally picks up...
@@SycAamore, you keep pushing your crash prediction forward. In 2025 will you be claiming the crash will happen in 2028? In 2028 will you be claiming the crash will come in 2030? Lol
Estate agents now just want to earn wages in jan and feb there gonna drop prices now to get their commissions in. This is how the correction begins 30% correction I forecast
Markets are local, aren't they. And in my local market, there's a steady flow of properties being added to the portals already marked as sold STC, with prices not dissimilar to their Zoopla estimates.
Definately seeing that in Cumbria and South West Scotland. Overpriced junk being snapped up in days. Better stuff going in a day or two. I viewed a 3 bed ex council house last week that I could see straight away had subsidence issues (not disclosed by agent), rising damp issues and needed new kitchen and potential rewire: ended up going to a bidding war and sold £65k over asking! Crazy times.
@@klawlor3659the site is full of people hoping they can cash in on the eutopian crash that is unlikely to happen.. yes very high end properties are dropping a bit but the run of the mill properties aren't really losing much if anything at all there are also lots of former RTB landlords who have sold up and are waiting for the market to dip so they can reinvest their money in property to develop...my main residence sits in the area where it may be slower to sell at the moment I'm not remotely desperate to sell so won't market it till things pick up.. recently sold a house I renovated and despite 14 months of interest rate rises I got the price I was hoping to get when I first started the renovation..tbh I got more as several bidders increased the price but only by about £5k..getting another one to renovate In a few months and I'm more than happy to sit on it and wait if the market dips..
No new listing in North or West London for semi-detach houses on boxing day. It looks like outside of London there are more properties advertised on Rightmove, Zoopla and Onthemarket.
Dude, you have been saying that the prized are going to go down significantly since the end of 2022. I am still waiting. If something, the last crazy increase in 2022 came down a couple of month laters when the interest rate went up, but thats it. There hasnt really being a big decrese in prize and it doesnt look like it is going to be, people still has money and not many new house are built.
Things like this take time. I'd day take a look at the properties in your local area and check them every week. You'll see what is happening. For me, houses priced too high are not selling and are constantly being reduced
The housing market moves very slowly....crashes usually play out over a couple of years, minimum. I bought my first house in 2012 when I left uni & got my first proper job....that was pretty much market bottom from the GFC in 2008.
I am a mortgage broker. New enquiry levels increased dramatically towards the end of the year. A price correction yes, crash very unlikely. As long as sellers price to buyers expectations the rates are now making houses look much more affordable.
Look I agree with you that currently house prices have to come down and sellers are ridiculous but the issue with your videos is, don't you have a vested interest in trying to push house price falls for clickbait and also because you'd like to buy a cheaper house soon?
I just don't like how he uses the channel to push an agenda. I know he wants cheaper house prices so he personally can benefit from it. It's not impartial enough
2 year fixed swap rates down 3.95% today. Big mortgage rate reductions and early BoE base rate reduction expected in the NY. Buyers will return as mortgage pricing eases and that fact that renting is so expensive. The prices will correct in areas. Crash, depends on what you class as a crash. Correction of 5% is expected.
Salary inflation is another, once the market competition heats up we're going to see huge nominal increase in house prices again. I expect this will start after the first base rate cut is confirmed. The house price frenzy was put on hold by interest rate hikes, that's over now. I'd say buy now or risk missing out, like many did in the 2020 dip.
@@emberplate too many people believe this house price crash stuff and swallow all the statistics which the click baiters feed. Had a mate who sold to an investor and was smug as hell. Decades of house prices going up and decades of rent paid later turned out not to be the best plan after all. I tell all my clients buy a house you love for a price you can afford. When house prices rise read the property section. When they fall read the sports section. They generally correct and long term the magic is in paying the mortgage off not on what you bought the house for.
Get the prices down even just for the fact first time buyers can have house and kids at the same time. No wonder population is dropping if both partners are working all the hours god sends and cant afford kids.
Actually. The migrants pay for themselves as they have no recause to public funds and need to work to be sponsored. And please dnt mention the illegal immigrants. The make up a tiny proportion abd the mess of how much is spent on them is due to home office incompetence and stupidity @TG-ts3xn
I am not sure about the bounce in my area- literally a handful of new listings and reductions. Barely anything to choose from and whatever is coming in is more of a higher end ie 4 beds and £600k upwards. Im not holding my breath. Unless those 4 bed homes get down to such a level that I can make offers on them... 🤣
UK house prices fell 1.8% this year, as interest rates squeeze mortgage affordability, this is a huge loss on my £500,000 property of £2770, but my profit on my BTL bungalow was £9000 so makes up for it
We have less listings on Boxing Day than before up here in Scotland! I was hoping for new listings to checkout during the holiday period.... but... crickets.
Property prices have been stagnant whilst inflation was running away the past 2 years. That’s at least a 15% relative correction. Interest rates are now being lowered with more to come, unemployment is low, wages are increasing, and demand is still there. I don’t believe a crash is likely, and I think the correction has already happened invisibly courtesy of inflation.
Nearly 20 new properties and a handful of reductions here in TW1 yesterday. Similar in the surrounding areas. Some very sensibly priced; some riding the "we have seen the bottom of the market wave" 😅
Really? You think so...housing supply is manipulated by major builders a bit like oil prices are by OPEC they just stall development until it picks up again and as supply is throttled demand increases..happens all the time ...just look back over the last 40 years...don't be taken in by the delusion that there will be some catastrophic crash..it's a temporary blip.
Just unbelievable since Brexit votes results and the lockdown all those forecasters scaring home owners with their negative forecasts ...like " The UK property market prices will crash by 30% ...but the property market proved to be strong and in line with the global increase in costs of everything... So it is a bad time for those forecasters to find another job..
Maidstone in Kent. The population is set to grow according to every analysis, Population density is going to increase- you had better believe it is. Buy now before housing stock and land runs out. What happened to the 35% fall in house prices ?
'Boxing day bounce' is about the numbers of new listings. They are not all added on boxing day they are added prior (estate agents take Christmas off as well) . Then the listings are shown on boxing day. Hence the headline can be written in advance. Not too tricky but worth a video to show us how smart the expert is. Now prices. Many if not all are waiting for the bottom of the market, which is interest rate related and thus mortgage deal OR for the cash buyer, bargain related. When rates have dropped a bit people will get a move on. Prices can drift down till then and those just cutting their prices are chasing the market down. It can get pretty sweaty if youre selling and cutting, when really, its a waiting game. Future videos of this pundit will simply be a narrative of this.
My nephew just signed for his first house on the 23rd Dec. It has been delayed many times over a couple of months. He wanted the house and offered 10% less than the asking price. Would the date of signing be processed on Boxing Day figures? Wonder if some manipulation is taking place.
@@timlozinski1422, you like stats? This is where house prices are "crashing" the most in the UK: Portsmouth down 2% Bournemouth down 2.6% Southampton down 2.3% Bristol down 1.5% Cambridge down 2.3% Aberdeen down 2.4% National average is 1.3% down
Reductiontastic with very few new listings on the Devon / Somerset boarders. Be interesting to see how RM spin it given the other comments that are similar. No bounce this year me thinks - it just hasn’t happened.
Do not buy a house in the UK, at the moment they are artificially priced by 60%, crashes occur in cycles and one is overdue, unemployment , inflation, crime, poverty and Tories are a good barometer, terraced houses built in the late Victorian era are damp and mouldy with slate roofs that need replacing and that is just the start, new builds are built with the poorest quality materials a main concern being the bricks, workmanship and land they have/are being built on, not to mention the rates you will have to pay to accommodate Africans, Middle Eastern and Asians in the future as the boats/other will increase, your rates bill will be paying for the upkeep of 2 immigrant families in 2030. A good time to leave england would have been after WW2 1945 as the the country was bankrupt and to avoid the rationing to 1954, required before 1965 and now essential to abandon the island as it is finished.
This guys is rubbish keep saying house price crash for a good few years now, but still not happening!!!if that happens I would love to get few more houses in my portfolio. Look at his confident grin can’t bear it ….
Who’s going to be TOP OF THE LEAGUE… Premire…. Championship… League One…. League Two…. Please write your predictions underneath & win an all inclusive package for 2 to your clubs New year match 👍
Comments below think a mortgage guarantee scheme underpinned by the taxpayer is a good sign. If a market needs that gimmick it is not functioning properly. I noticed a flat in Ryde, Isle of Wight drop from just under £100k to £92,500 then £80,000. There are distressed sellers out there.
You’ve been preaching about a crash for months but let’s be honest, it’s not happened. Rates are going to come down next year - sure more sellers , but also more buyers. Starting to get tired of your repetitive false predictions.
Last year 11 pages of new properties under my search criteria came to market on Boxing Day - this year, there were just 2 pages! I can't buy until around Sept 2024 because I have ~£650k locked up in 1-year fixed products from the NS&I and various FSCS licensed banks but I'm still monitoring the market to keep my finger on the pulse.
You should have locked for at least 2 years...These 6% deals are not coming back. In the meanwhile property values keep falling...and it seems you will be catching that falling knife...
Alot of these people hate the fact the mortgage interest rates are in the 3's now. They will be in the 2's within 6 months. Six months ago when I was reassuring people that rates would drop - I got hate responces in return. I'm trying to teach people on here but they refuse to listen.
I'm tired of his click bait now. Can't even be arsed to watch it. Endured over a year of this rubbish. Used to listen to you when you talked about finance and crypto. You should have stuck to what you know. Unfollow. I seriously recommend anyone who wants to really learn about property to follow property podcast. They give a balanced view and they're not always trying to pedal the same rhetoric to support their own mistake in the market. You've been telling us about a crash for over 18months now, you were wrong
@@andrewestbrook4473 the truth?! The man has predicted a crash consistently for 18months?! And been wrong! And he will no doubt predict it until there is a crash (which there is always undoubtedly a crash). I I best in property, I get it. There upswings and downswings. You don't time it, no one can and no one does successfully. It takes too bloody long to buy and sell property anyway to time it. The TRUTH is that you're always better in property. Time in the market, is better than timing the market. Even if you bought at the peak in 2008, then you'd still be in profit now (apart from Belfast). The other issue with timing the market with property is all the fees, so even if you get it right, you're about 5% down after all the fees, that can be a whole years growth. There are some truths for you 😂 Our man here has also had a load of costs he neglects to include like renting for 18months, another truth for you, so 5% is looking more like 7-8%. Now there's a crash for you!!
Yeah sorry to inform all you hawks on here but next near house values will double so it’s natural you have to be motivated this time of year and accept an offer. However this will smash back come spring when new homes stop coming to the market. I laugh at the jokers on here presenting examples of the house around the corner which was for sale at this and now it’s that. Buy now because the market is going to sky rocket.
Jeez! I thought you might take a week off from your statements of the bleedin obvious. Estate agents market properties day before serious buyers most likely to look at website. Who knew?
This is where house prices are "crashing" the most in the UK: Portsmouth down 2% Bournemouth down 2.6% Southampton down 2.3% Bristol down 1.5% Cambridge down 2.3% Aberdeen down 2.4% National average is 1.3% down
@rabj2834 hi rab, I can't comment on this data you've presented but I'm seeing with me own eyes drops of 10% in the northwest. Started happening in Oct/Nov. In 2022, you couldn't even get a viewing for a house and there were bidding wars. I don't see any of that now and I suspect sellers are accepting 5-10% off their asking price. It will be interesting to see if declines continue into 2024 or if prices stabilise.
@@nsoul4296, I'm an NI based investor and prices are up 3%. There are trouble spot areas in the UK (see above) but when you look at the market as a whole - that will paint a different picture than what you see in your area.
When it comes to illiquid assets (rather than liquid assets), crashes necessarily play out over an extended period, because you can't just sell them at the drop of a hat. Moreover, when a majority of mortgage holders are on 2-year or 5-year fixed-rate deals, the impact of interest rate rises is more gradual.
This is where house prices are "crashing" the most in the UK: Portsmouth down 2% Bournemouth down 2.6% Southampton down 2.3% Bristol down 1.5% Cambridge down 2.3% Aberdeen down 2.4% National average is 1.3% down
BoE and NIESR both say house prices in the UK will fall 2-4% in 2024. Not what you would call a house prices crash. Prices vary region to region . A simple Google search will tell you all you need to know about house prices in the UK.
• Follow me on Twitter for my latest thoughts: twitter.com/darrenthedegen
Housing prices are unlikely to significantly decrease until there is a substantial increase in housing supply. In the USA, there's a shortage of millions of housing units, and construction isn't keeping pace. The constant demand for housing, coupled with population growth, means that even a slight price drop attracts numerous buyers who quickly absorb the available supply. I'm considering purchasing affordable houses in 2024 and possibly venturing into stock investments. When is the best time to enter the stock market? Some people say it is profitable, but others say it's risky. Any advice?
Consider investing in stocks especially during a recession. While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you're cautious. Just remember, this is not financial advice, but it's a good time to think about buying stocks since having cash on hand isn't always the best option.
You're right! With the help of an experienced coach, I made some changes in my investments. I started with $321k, and now I have more than $750k by investing in stocks, ETFs, and bonds. I think housing prices won't go down much until there are more houses available.
Mind if I ask you to recommend this particular coach to you using their service?
The decision on when to pick an Adviser is a very personal one. I take guidance from ‘Amanda Kathryn Sachs‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I appreciate the information. After conducting my own research, it is evident that your advisor is highly skilled and knowledgeable. I have reached out to her via email and scheduled a phone call. I am impressed by her expertise and eagerly looking forward to our conversation.
Just bumped into a couple today in Eastbourne who are trying to sell their house in Kingston, it was worth £800,000 two years ago, now they can’t get £700,000 for it, they are getting offers of £670,000 to 680,000.
Hey that was meant to be a private conversation 🤔
Was probably overpriced at 800K even two years ago
@@WillyJunior 😂
Just walked into my local B&Q and sheds selling at 25% off. The crash is coming 🤣👍
@@RabJ208The government will spring into action and incentivise would-be shed buyers with a subsidy on new lawn mowers and watering cans in the 6 March budget announcement. You heard it here first 😁
Normally I do a search every day on RM within a 10 mile radius of where I want to be and usually there are 8 to 10 new listings each day. Yesterday, Boxing Day, there were 84 new listings! My eyes popped out of my head.
74 in Somerset town
Very similar numbers up in Leeds area, normally 10 a day, nearly 100 on boxing day!
I had that too but the majority were reductions! Most had £25,000 knocked off but still overpriced 🤦
This is a FUD channel. Rates decreases next year - watch prices rise. Not saying it’s a great thing, but reality.
Yes, FUD means clicks.
Floodgates opening meaning houses coming to the market because owners can’t afford to run them!
Unfortunate choice of phrase, floodgates.
Honestly, I envy your level of hope when using the word "crash". Im waiting till the end of 2024 and if nothing moves I'm out of the UK.
How are people so happy to overpay for decadent houses?
That's a good plan! Here in the SE, a 3-bedroom shithole semi that wouldn't classify as a "house" elsewhere in Europe let alone the US, will cost you around £600K. Do you want to spend your whole life paying for 80sqm of damp crap, while you can possibly work remotely in Spain and get the same money?
Same for me! I keep watching these videos thinking ah... Here we go but things are still unaffordable by your self when you take all costs into account. I remote work anyway and just starting to think in exactly the same way, may as well be in a place where I can actually enjoy myself rather than earning just enough to live in the uk
@@jonathanevans5453It's not such a big step. Once you make it, you start seeing how much better life can be outside the UK, earning a UK salary. I'm still stuck here on a six figure salary, but they may relax their remote policies...
I got a small holding (house 200sqm, garage 90sqm, barn 120sqm and a large wood shed)plot is4000sqm in south east Sweden. It's about 40 miles from a big city for work. Wages same as uk. £250 -300k for that.... a nice detatched starts at £100-150k no crime and it does get hot in the summer! I like spain but its just to hot and not much work.
This is where house prices are "crashing" the most in the UK:
Portsmouth down 2%
Bournemouth down 2.6%
Southampton down 2.3%
Bristol down 1.5%
Cambridge down 2.3%
Aberdeen down 2.4%
National average is 1.3% down
BoE and NIESR both say house prices in the UK will fall 2-4% in 2024.
Not what you would call a house prices crash. Prices vary region to region .
A simple Google search will tell you all you need to know about house prices in the UK.
This guy would find the negative in a lottery win, 😂
Many lottery winners would confirm the downsides e.g, family estrangement
You video come across again!!!
Your wishful thinking of house crash report for good few years now but unfortunately is not gonna happen as bad as you wish!!
I really admire your relentlessly saying house market is gonna crash but unfortunately there isn’t enough chemistry for a house market to crash .
BUT how many of these are the same houses that were taken of by agents at the beginning of December and have just beed re-listed as new properties. In Dorset and Wast Devon this happens all of the time.
The UK has the lowest quality yet most overpriced crap housing I've ever seen. New house builds seem to be pure junk.
Gotta say I've looked at a variety of housing over the last few years as I've toyed with the idea of moving to a larger property. Few things I've found:
1. New build homes made by large homebuilders tend to cut loads of corners and use cheap substandard contractors. Think leaking pipes, dodgy electrics, turf laid straight onto builders rubble, wonky walls, leaking glazing etc.
2. The much revered "quality built council house". What utter shite!
Lived in Ireland for 6 years and build quality (and builders I worked with) were 100 times better than the shite here.
3. Local builders who build small scale developments (think 15 houses or less) often make a much better job of their homes. But even then, give it 10 years and you start seeing issues.
I hope HPI can be categorized into 5+ bedrooms， 4, 3, 2 br houses, the same for apartments. Average prices dont show you the real oictuee, especially when downsizing is common now.
Hi. How is your chrome plug-in still working ? Are you paying a subscription?
Can`t wait for those coming out of fixed rates in 2024 and having their mortgage double or triple , no wonder someone on 50k could have afforded a 350k mortgage with 1% interest . We have a household income of about 85 to 90k and to buy a house that is over 300k for me is scary to be honest . We are renting for 1.025 a month for a 3 bed semi and the average house in my area is about 280-320k but to afford a decent sized house that has no issues is over 350k so I will just wait a bit more or just invest my deposit in an ISA .
It's all out of control. I've just had a £780 electric bill fall on my doorstep, my van quote for insurance has gone from £1200 to £2400! My Christmas shop at Waitrose was £475. Its game over for the middle class.
Waitrose? Get to a discount supermarket then
@Jay-xr3sb you can't buy organic food at lidl. You might be happy with your government injections and poison food but I'm not.
Finally seeing plenty of reductions in the northwest, I think 2024 will be a good time to buy.
I think the market has peaked and will be slowly shrinking for years to come
Nah, wait till at least mid-2025...
@SycAamore pretty eager to move as I have a little one and need more space. I have a decent deposit so not too fussed if prices decline another 10% after I buy, been through it all before in 08.
I won't overpay or get into any bidding war, I'll make my offer and if vendor doesn't accept it, I'll happily walk away.
Its difficult to predict the bottom, I think rates will drop end of 2024 but with 1.5m people coming off super low rates in 2024 and onto a higher rate the falls could be compounded by this.
@@nsoul4296 How will you know you are not overpaying? Why not rent the same property and wait till 2025? I'm sure it will be cheaper than your mortgage. Financially you will be better off and you will be sure you are not overpaying when the market finally picks up...
@@SycAamore, you keep pushing your crash prediction forward. In 2025 will you be claiming the crash will happen in 2028? In 2028 will you be claiming the crash will come in 2030? Lol
Not many listings in Kent.
Estate agents now just want to earn wages in jan and feb there gonna drop prices now to get their commissions in.
This is how the correction begins
30% correction I forecast
not much new on the market where I am
I absoultely agree with you. I am similar position as you.
Markets are local, aren't they. And in my local market, there's a steady flow of properties being added to the portals already marked as sold STC, with prices not dissimilar to their Zoopla estimates.
Definately seeing that in Cumbria and South West Scotland. Overpriced junk being snapped up in days. Better stuff going in a day or two. I viewed a 3 bed ex council house last week that I could see straight away had subsidence issues (not disclosed by agent), rising damp issues and needed new kitchen and potential rewire: ended up going to a bidding war and sold £65k over asking! Crazy times.
@@klawlor3659the site is full of people hoping they can cash in on the eutopian crash that is unlikely to happen.. yes very high end properties are dropping a bit but the run of the mill properties aren't really losing much if anything at all there are also lots of former RTB landlords who have sold up and are waiting for the market to dip so they can reinvest their money in property to develop...my main residence sits in the area where it may be slower to sell at the moment I'm not remotely desperate to sell so won't market it till things pick up.. recently sold a house I renovated and despite 14 months of interest rate rises I got the price I was hoping to get when I first started the renovation..tbh I got more as several bidders increased the price but only by about £5k..getting another one to renovate In a few months and I'm more than happy to sit on it and wait if the market dips..
I’m commenting early. I’ll wager prices haven’t been slashed. Yet again.
No bounce in wales
No new listing in North or West London for semi-detach houses on boxing day. It looks like outside of London there are more properties advertised on Rightmove, Zoopla and Onthemarket.
Dude, you have been saying that the prized are going to go down significantly since the end of 2022. I am still waiting. If something, the last crazy increase in 2022 came down a couple of month laters when the interest rate went up, but thats it. There hasnt really being a big decrese in prize and it doesnt look like it is going to be, people still has money and not many new house are built.
Things like this take time. I'd day take a look at the properties in your local area and check them every week. You'll see what is happening. For me, houses priced too high are not selling and are constantly being reduced
The housing market moves very slowly....crashes usually play out over a couple of years, minimum. I bought my first house in 2012 when I left uni & got my first proper job....that was pretty much market bottom from the GFC in 2008.
a broken clock is right twice a day
I am a mortgage broker. New enquiry levels increased dramatically towards the end of the year. A price correction yes, crash very unlikely. As long as sellers price to buyers expectations the rates are now making houses look much more affordable.
Imagine if the "crash" happens in 2032. This lot will be saying "I knew it" 😂
Look I agree with you that currently house prices have to come down and sellers are ridiculous but the issue with your videos is, don't you have a vested interest in trying to push house price falls for clickbait and also because you'd like to buy a cheaper house soon?
This channel is obviously just a money making venture for him. Endless stream of new potential buyers means big views I guess
I just don't like how he uses the channel to push an agenda. I know he wants cheaper house prices so he personally can benefit from it. It's not impartial enough
@@F1R3EMBLEM agreed. So many channels like this now. We are moving to a post truth world
2 year fixed swap rates down 3.95% today. Big mortgage rate reductions and early BoE base rate reduction expected in the NY. Buyers will return as mortgage pricing eases and that fact that renting is so expensive. The prices will correct in areas. Crash, depends on what you class as a crash. Correction of 5% is expected.
Spot on
BoE rate is only one of factors.Recession is the other one
Salary inflation is another, once the market competition heats up we're going to see huge nominal increase in house prices again. I expect this will start after the first base rate cut is confirmed. The house price frenzy was put on hold by interest rate hikes, that's over now. I'd say buy now or risk missing out, like many did in the 2020 dip.
@@emberplate too many people believe this house price crash stuff and swallow all the statistics which the click baiters feed. Had a mate who sold to an investor and was smug as hell. Decades of house prices going up and decades of rent paid later turned out not to be the best plan after all. I tell all my clients buy a house you love for a price you can afford. When house prices rise read the property section. When they fall read the sports section. They generally correct and long term the magic is in paying the mortgage off not on what you bought the house for.
Get the prices down even just for the fact first time buyers can have house and kids at the same time. No wonder population is dropping if both partners are working all the hours god sends and cant afford kids.
They need to pay for all the migrants who just arrived
Actually. The migrants pay for themselves as they have no recause to public funds and need to work to be sponsored. And please dnt mention the illegal immigrants. The make up a tiny proportion abd the mess of how much is spent on them is due to home office incompetence and stupidity @TG-ts3xn
I am not sure about the bounce in my area- literally a handful of new listings and reductions. Barely anything to choose from and whatever is coming in is more of a higher end ie 4 beds and £600k upwards. Im not holding my breath. Unless those 4 bed homes get down to such a level that I can make offers on them... 🤣
UK house prices fell 1.8% this year, as interest rates squeeze mortgage affordability, this is a huge loss on my £500,000 property of £2770, but my profit on my BTL bungalow was £9000 so makes up for it
Excellent analysis.
We have less listings on Boxing Day than before up here in Scotland! I was hoping for new listings to checkout during the holiday period.... but... crickets.
Property prices have been stagnant whilst inflation was running away the past 2 years. That’s at least a 15% relative correction. Interest rates are now being lowered with more to come, unemployment is low, wages are increasing, and demand is still there. I don’t believe a crash is likely, and I think the correction has already happened invisibly courtesy of inflation.
More government borrowing means higher interest rates to persuade investors to buy the debt.
Nothing much coming on the market where I'm looking in South Shropshire. Not in my price range anyway...
if they wANt ua all to own norhing why they allow a crash?
Nearly 20 new properties and a handful of reductions here in TW1 yesterday. Similar in the surrounding areas. Some very sensibly priced; some riding the "we have seen the bottom of the market wave" 😅
Where i want to live theres no new listings since before christmas :-(
Record number of sellers coming onto the market makes things worse for sellers. Way more supply than demand!!!
Really? You think so...housing supply is manipulated by major builders a bit like oil prices are by OPEC they just stall development until it picks up again and as supply is throttled demand increases..happens all the time ...just look back over the last 40 years...don't be taken in by the delusion that there will be some catastrophic crash..it's a temporary blip.
Certain properties will be bought up for development on mass.
I'm from mangravet and I have had to release my xl bullies wild in mote park due to ban next year
Doesn't apply to Scotland
Just unbelievable since Brexit votes results and the lockdown all those forecasters scaring home owners with their negative forecasts ...like " The UK property market prices will crash by 30% ...but the property market proved to be strong and in line with the global increase in costs of everything... So it is a bad time for those forecasters to find another job..
Maidstone in Kent. The population is set to grow according to every analysis, Population density is going to increase- you had better believe it is.
Buy now before housing stock and land runs out.
What happened to the 35% fall in house prices ?
'Boxing day bounce' is about the numbers of new listings. They are not all added on boxing day they are added prior (estate agents take Christmas off as well) . Then the listings are shown on boxing day. Hence the headline can be written in advance. Not too tricky but worth a video to show us how smart the expert is.
Now prices. Many if not all are waiting for the bottom of the market, which is interest rate related and thus mortgage deal OR for the cash buyer, bargain related. When rates have dropped a bit people will get a move on. Prices can drift down till then and those just cutting their prices are chasing the market down. It can get pretty sweaty if youre selling and cutting, when really, its a waiting game. Future videos of this pundit will simply be a narrative of this.
Bring on the crash! 📉📉📉
Prices will go up slowly in 2024 not down and certainly no crash
@@leemarsden1846 😂😂 There's 3 more years of price attrition.
@@leemarsden1846few im a seller
The 2020 crash?
Clearly not a homeowner, 😂
Just as I predicted, expect price drops of up to 45% in the coming months, you heard it here first 😊
Deluded fella
No chance maybe 5%
My nephew just signed for his first house on the 23rd Dec. It has been delayed many times over a couple of months. He wanted the house and offered 10% less than the asking price. Would the date of signing be processed on Boxing Day figures? Wonder if some manipulation is taking place.
Land Registry figures for December will take months to be in any official stats.
@@timlozinski1422, you like stats?
This is where house prices are "crashing" the most in the UK:
Portsmouth down 2%
Bournemouth down 2.6%
Southampton down 2.3%
Bristol down 1.5%
Cambridge down 2.3%
Aberdeen down 2.4%
National average is 1.3% down
Reductiontastic with very few new listings on the Devon / Somerset boarders. Be interesting to see how RM spin it given the other comments that are similar. No bounce this year me thinks - it just hasn’t happened.
Do not buy a house in the UK, at the moment they are artificially priced by 60%, crashes occur in cycles and one is overdue, unemployment , inflation, crime, poverty and Tories are a good barometer, terraced houses built in the late Victorian era are damp and mouldy with slate roofs that need replacing and that is just the start, new builds are built with the poorest quality materials a main concern being the bricks, workmanship and land they have/are being built on, not to mention the rates you will have to pay to accommodate Africans, Middle Eastern and Asians in the future as the boats/other will increase, your rates bill will be paying for the upkeep of 2 immigrant families in 2030.
A good time to leave england would have been after WW2 1945 as the the country was bankrupt and to avoid the rationing to 1954, required before 1965 and now essential to abandon the island as it is finished.
As soon as the rates are eased, buyers will make another bubble
the problem is lack of supply, we have nothing to buy, whatever there is, is snapped up,
Do you have a discord ? If not make one please !
There won't be a crash maybe 4/5% drop on homes over 250k at most
This guys is rubbish keep saying house price crash for a good few years now, but still not happening!!!if that happens I would love to get few more houses in my portfolio.
Look at his confident grin can’t bear it ….
Who’s going to be TOP OF THE LEAGUE…
Premire….
Championship…
League One….
League Two….
Please write your predictions underneath & win an all inclusive package for 2 to your clubs New year match 👍
Don't hope for a crash. If there was a crash, you could probably laid off and couldn't afford anything. Look at what is happening in Asia.
Comments below think a mortgage guarantee scheme underpinned by the taxpayer is a good sign. If a market needs that gimmick it is not functioning properly. I noticed a flat in Ryde, Isle of Wight drop from just under £100k to £92,500 then £80,000. There are distressed sellers out there.
You always say crash like no one will be affected by it. How bout the people that just bought houses.
You’ve been preaching about a crash for months but let’s be honest, it’s not happened. Rates are going to come down next year - sure more sellers , but also more buyers. Starting to get tired of your repetitive false predictions.
Please show me the video where you state Supply And Demand.
Testing,
Last year 11 pages of new properties under my search criteria came to market on Boxing Day - this year, there were just 2 pages! I can't buy until around Sept 2024 because I have ~£650k locked up in 1-year fixed products from the NS&I and various FSCS licensed banks but I'm still monitoring the market to keep my finger on the pulse.
You should have locked for at least 2 years...These 6% deals are not coming back. In the meanwhile property values keep falling...and it seems you will be catching that falling knife...
Alot of these people hate the fact the mortgage interest rates are in the 3's now. They will be in the 2's within 6 months. Six months ago when I was reassuring people that rates would drop - I got hate responces in return. I'm trying to teach people on here but they refuse to listen.
I'm tired of his click bait now. Can't even be arsed to watch it. Endured over a year of this rubbish. Used to listen to you when you talked about finance and crypto. You should have stuck to what you know. Unfollow. I seriously recommend anyone who wants to really learn about property to follow property podcast. They give a balanced view and they're not always trying to pedal the same rhetoric to support their own mistake in the market. You've been telling us about a crash for over 18months now, you were wrong
Maybe you can't handle the truth. Don't let the door bang your backside on the way out.
@@andrewestbrook4473 the truth?! The man has predicted a crash consistently for 18months?! And been wrong! And he will no doubt predict it until there is a crash (which there is always undoubtedly a crash). I I best in property, I get it. There upswings and downswings. You don't time it, no one can and no one does successfully. It takes too bloody long to buy and sell property anyway to time it. The TRUTH is that you're always better in property. Time in the market, is better than timing the market. Even if you bought at the peak in 2008, then you'd still be in profit now (apart from Belfast). The other issue with timing the market with property is all the fees, so even if you get it right, you're about 5% down after all the fees, that can be a whole years growth. There are some truths for you 😂 Our man here has also had a load of costs he neglects to include like renting for 18months, another truth for you, so 5% is looking more like 7-8%. Now there's a crash for you!!
Yeah sorry to inform all you hawks on here but next near house values will double so it’s natural you have to be motivated this time of year and accept an offer. However this will smash back come spring when new homes stop coming to the market. I laugh at the jokers on here presenting examples of the house around the corner which was for sale at this and now it’s that. Buy now because the market is going to sky rocket.
😂😂 honestly you change your mind with the wind
Jeez! I thought you might take a week off from your statements of the bleedin obvious. Estate agents market properties day before serious buyers most likely to look at website. Who knew?
You got that very wrong 👺
‘Crash’ …..yeah right what’s that 3% hahahaha
The prizes when up a 25% during 2021 and 2022. Now, during 2023 they went down 3%. Perfect.
I'm seeing well over 10% from summer 2022 prices in Northwest. Things have started to accerlate over the past few months.
This is where house prices are "crashing" the most in the UK:
Portsmouth down 2%
Bournemouth down 2.6%
Southampton down 2.3%
Bristol down 1.5%
Cambridge down 2.3%
Aberdeen down 2.4%
National average is 1.3% down
@rabj2834 hi rab, I can't comment on this data you've presented but I'm seeing with me own eyes drops of 10% in the northwest. Started happening in Oct/Nov. In 2022, you couldn't even get a viewing for a house and there were bidding wars. I don't see any of that now and I suspect sellers are accepting 5-10% off their asking price. It will be interesting to see if declines continue into 2024 or if prices stabilise.
@@nsoul4296, I'm an NI based investor and prices are up 3%. There are trouble spot areas in the UK (see above) but when you look at the market as a whole - that will paint a different picture than what you see in your area.
There will be no crash
Oh yes there will. 3 more years of price attrition to come.
@@nicky_nike, I've been hearing about this looming crash since 2020
@@RabJ208 You don't listen in the right places. Check out Nationwide graph, it all stared last year.
Since when did a "CRASH" take many years to play out? As i've said many times before, a correction, yes, a "CRASH"? No.
When it comes to illiquid assets (rather than liquid assets), crashes necessarily play out over an extended period, because you can't just sell them at the drop of a hat. Moreover, when a majority of mortgage holders are on 2-year or 5-year fixed-rate deals, the impact of interest rate rises is more gradual.
@@AM_o2000 that's not a "CRASH", that's a market correction to a new normal. A crash "is a sudden and significant decline in the value of a market."
@@dazzwsmith No, that's incorrect...stocks & crypto can crash in a day or a week. Property is a different animal entirely! Oy vey.
@@dazzwsmith Sudden for illiquid assets is longer than sudden for liquid assets.
This is where house prices are "crashing" the most in the UK:
Portsmouth down 2%
Bournemouth down 2.6%
Southampton down 2.3%
Bristol down 1.5%
Cambridge down 2.3%
Aberdeen down 2.4%
National average is 1.3% down
YoYo last Video fall to crash again 🤣🤣🤣
Supply And demand will always dictate house prices
Not going to plan really.. now there's talk of mortgage guarantee scheme by the tories .... you've screwed up..lets be honest
Tories with this figurehead PM will be obliterated in a couple of months. Do you think their "policies" will be relevant then?
Another UK house price crash 2024 video…yawn! 🥱😴💤
I also recommend it!
youtube
The Economy: What You've Missed
Garys Economics
BoE and NIESR both say house prices in the UK will fall 2-4% in 2024.
Not what you would call a house prices crash. Prices vary region to region .
A simple Google search will tell you all you need to know about house prices in the UK.