GAME OVER? It's Only Just Begun! (UK House Price Crash)

The UK House Price CRASH is FAR from over despite recent FALLS in INFLATION. This month's CPI data showed that inflation in the UK had fallen to 4.6%, however, this won't stop the UK housing market crash as inflation is still 130% above the Bank of England target of 2%, meaning possible rate cuts remain a LONG way off!

The Bank of England is unlikely to consider reducing the base rate until inflation is back below its 2% target. The latest data suggests this probably won't happen anytime soon as core inflation, owner-occupier costs and services inflation all remain worryingly high. The main reason that inflation fell was the reduction in energy costs when compared to the same period last year.

Sellers are desperately waiting for the Bank of England to cut interest rates so that mortgage repayments can come down, helping to make their overpriced properties more affordable. My advice to struggling sellers is to reduce prices NOW and get ahead of the market before it's too late!

House prices are predicted to FALL further in 2024 as higher interest rates continue to impact over 100,000 remortgages every month. In addition to this, UK house prices are likely to face continued downward pressure from a struggling economy which has managed zero growth in the past quarter.

Will house prices drop in 2024? I think so, yes! The UK property market is still yet to fully reprice to reflect higher interest rates and more expensive mortgage repayments.

Let us know your UK house prices forecast in the comments below.

Видео GAME OVER? It's Only Just Begun! (UK House Price Crash) канала Honest Money