I Was WRONG About House Prices! (UK House Price Crash - 1 Year Later)

A UK House Price CRASH has been WIDELY EXPECTED since property prices PEAKED last year, however, according to OFFICIAL statistics HOUSE PRICES are STILL HIGHER than when I SOLD my house LAST SUMMER! So what is actually going on, were my UK house price predictions WRONG or is there more to it than that?

Exactly one year ago this week, my wife and I chose to sell our house and move into a rental property. Part of this decision was the expectation that UK property prices were going to fall rapidly over the next couple of years, but so far house price falls have been limited.

Despite these minor falls, I am still very confident that house prices will go down further in 2023 and that 2024/2025 will be a better opportunity for buying a house.

I have been making videos about the UK Housing Market CRASH for the past year and there are two big lessons I have learned:

1) Official house prices from the ONS/Land registry can lag by approximately 6 months. This means they are an unreliable indicator of what the housing market is currently doing and where it might be heading.
2) The housing market moves a lot slower than most people realise and house price crashes can take multiple years to fully materialise.

More recent house price indexes such as Nationwide and Halix paint a much bleaker picture for the UK property market. House price growth has slowed by over 14% and annually house prices are down between 2-4%.

When you combine this recent data with high interest rates, mortgage payments up by over 50%, falling transaction numbers and an increasing supply of properties, the outlook for the housing market is very bearish!

Do you think house prices will fall further in 2023/24? Let us know by how much in the comments!

Видео I Was WRONG About House Prices! (UK House Price Crash - 1 Year Later) канала Honest Money