Housing Market Pain To DEEPEN In 2024! (UK House Price Crash)
UK House Prices experienced a notable DOWNTURN last year, marking the first annual decline in nearly 15 YEARS! All major house price indexes confirmed the decrease in 2023, and ominously, they are unanimous in their projections of further declines throughout 2024. This year could be even more PAINFUL as the UK house price CRASH really begins to bite both buyers and sellers!
The forecast for 2024 suggests a persistent downward trend in UK house prices, reflecting the ongoing adjustment of the housing market to elevated interest rates.
The foundation of the existing housing bubble relied heavily on low interest rates and accessible debt. However, these interest rates surged in the past 18 months as central banks responded to rising inflation, resulting in homeowners facing heightened mortgage payments and potential buyers finding themselves constrained by reduced borrowing capacity.
This standoff in the housing market is characterized by sellers reluctant to lower prices and buyers resisting overpaying.
In 2024, homeowners are expected to bear the brunt of the repercussions, finally coming to terms with the reality that the value of their properties has declined from the peak observed in 2022. Hopefully, estate agents and sellers have gleaned lessons from the previous year, realizing that overpriced properties struggle to find buyers in the current market conditions.
Data from Rightmove underscores the importance of accurately pricing properties from the outset, revealing that overpriced listings tend to sell for less than their appropriately priced counterparts.
As we navigate the uncertainties of the coming year, the lingering question remains: Will house prices continue to drop in 2024? Feel free to share your UK house prices predictions in the comments!
Видео Housing Market Pain To DEEPEN In 2024! (UK House Price Crash) канала Honest Money
The forecast for 2024 suggests a persistent downward trend in UK house prices, reflecting the ongoing adjustment of the housing market to elevated interest rates.
The foundation of the existing housing bubble relied heavily on low interest rates and accessible debt. However, these interest rates surged in the past 18 months as central banks responded to rising inflation, resulting in homeowners facing heightened mortgage payments and potential buyers finding themselves constrained by reduced borrowing capacity.
This standoff in the housing market is characterized by sellers reluctant to lower prices and buyers resisting overpaying.
In 2024, homeowners are expected to bear the brunt of the repercussions, finally coming to terms with the reality that the value of their properties has declined from the peak observed in 2022. Hopefully, estate agents and sellers have gleaned lessons from the previous year, realizing that overpriced properties struggle to find buyers in the current market conditions.
Data from Rightmove underscores the importance of accurately pricing properties from the outset, revealing that overpriced listings tend to sell for less than their appropriately priced counterparts.
As we navigate the uncertainties of the coming year, the lingering question remains: Will house prices continue to drop in 2024? Feel free to share your UK house prices predictions in the comments!
Видео Housing Market Pain To DEEPEN In 2024! (UK House Price Crash) канала Honest Money
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
![How to Overcome Self Doubt and Fear of Failure](https://i.ytimg.com/vi/PgdRTtKlL_g/default.jpg)
![NFT Bull Run!](https://i.ytimg.com/vi/_t23zfunXeM/default.jpg)
![How to SAVE MONEY FAST with LOWER BILLS | 8 x Ways to Reduce Monthly Outgoings!](https://i.ytimg.com/vi/6cdw6stqjtg/default.jpg)
![BEST Savings Account UK: 7% Regular / 4.8% Fixed / 3.15% Notice / 2.9% Easy! (December 2022 Update)](https://i.ytimg.com/vi/5SZmV2fh26o/default.jpg)
![ADVICE for ALL Business Owners!](https://i.ytimg.com/vi/rRUl0QMiu8g/default.jpg)
![Print on Demand T-SHIRT & SUPPLIER COMPARISON | Starting Print on Demand 2020](https://i.ytimg.com/vi/rF6VuPR1yDQ/default.jpg)
![How to Pay Yourself as a Ltd Company UK | Best Directors Salary 2022/2023](https://i.ytimg.com/vi/yKUmWu259AI/default.jpg)
![How to Pay Yourself Dividends | Dividends Explained UK](https://i.ytimg.com/vi/Fm34Ciszulc/default.jpg)
![How to SELL a House FAST | House Selling TIPS | Selling a House UK](https://i.ytimg.com/vi/yU735NXv8uc/default.jpg)
![How to Pay Yourself as a Ltd Company UK | Directors Salary 2021/2022](https://i.ytimg.com/vi/SRt2sGH14xw/default.jpg)
![How to Pay Yourself as a Ltd Company UK | BEST Directors Salary 2023/2024](https://i.ytimg.com/vi/chvWZFXgnRo/default.jpg)
![How to Pay Yourself as a Ltd Company - Directors Salary 2020/2021 - Dividends vs Salary UK](https://i.ytimg.com/vi/1NN3nbatTEo/default.jpg)
![10 x ADVANTAGES of a Limited Company | Starting a Ltd Company UK](https://i.ytimg.com/vi/KLLKurCNrbg/default.jpg)
![How to MAKE MONEY ONLINE in 2020 | 10 x Ways to EARN MONEY FAST & Work From Home!](https://i.ytimg.com/vi/FAPwccKyB1E/default.jpg)
![Car Leasing Explained UK - Personal Contract Hire (PCH) - How Does Car Leasing Work?](https://i.ytimg.com/vi/ZmS9Mb6tWqc/default.jpg)
![Best UK Car Leasing Deals (HOW TO FIND CHEAP CAR LEASES)](https://i.ytimg.com/vi/pNOz-kK-Ygg/default.jpg)
![How to Start a Business UK | 10 x Top Tips for Starting a Business](https://i.ytimg.com/vi/4oFU2GYimN4/default.jpg)
![Company Car Tax Explained UK | How Do Company Cars Work?](https://i.ytimg.com/vi/0MumTy8JWwA/default.jpg)
![How Much Money Did I Make? | PASSIVE INCOME | Make Money Online!](https://i.ytimg.com/vi/XnEyjuGBqf4/default.jpg)
![UK Income Tax System Exposed! | Personal Allowance Trap | 60% Marginal Tax Explained](https://i.ytimg.com/vi/lbL9r7bN07Y/default.jpg)
![BEST Savings Account UK 2023 (February Update)](https://i.ytimg.com/vi/3u_mnVIqEXw/default.jpg)