House prices on the verge of a boom! đ€Șđ đ
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- Äas pĆidĂĄn 6. 05. 2024
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Express House Price Boom Story
www.express.co.uk/news/uk/189...
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The last thing this country needs is higher prices of anything. High property prices are destroying the fabric of society.
Home owners please remember your home is only worth what other people are prepared to pay for it
Yes and if you've neglected the maintenance and done other things on the cheap you won't get top dollar. Fact.
Then you will have to pay more to replace the one you sell.
Haha.
I bought my last newspaper in 1978, and haven't had a TV since 2004 and i reckon I'm better informed than most as a result! :D
You are đ
Normally predicts heatwaves on front page. Old person's rag. Think they are promoting a worse housing market by telling oldies to expect more than asking đ
Same here.
Same. I agree đ
nine times joint income to buy a buxh of low grade housing garbage WHAT PRESIDENT MACRON RIGHTLY DESCRIBED AS A SLAVE STATE. I am amazed at the state of that country and how the population tolerates gross abuse without any severe reaction.
Saw this Newspaper today , while house hunting actually , and instantly thought of youâŠ.Absolute madness!⊠glad your addressing it Charlieđ
Absolutely same here. I'm a first time buyer to be. Sorting out mortgage atm, and then going to start viewing, many reductions around!
If the currency slides 50% and house prices go up 50% this is not a boom, but might be labelled one but really money just devaluedâŠthe only reason house âpricesâ have not totally collapsed is that the currency is collapsing making it look like the prices are bit lower or flat. In real terms part of the crash has happened.
Have they started talking about green shoots yet? They usually do that about halfway through the downturn. It means we've moved beyond the 'denial that we're in a downturn' phase and into the 'denial about how long the downturn will last' phase.
It seems quite clear that house prices can't "boom" because they are not affordable for the vast majority of people as it is, with mortgage rates this high.
But the people that can afford them have nothing else to do with their money. Check out 'Garys Economics'.
The vast majority of people wonât be buying, only the financial elite. You will be renting.
And investors can still get 4-6% return guaranteed on their cash whereas growth in house prices looks grim, so why invest in property..???
Years ago it was uncommon to have mass ownership...we are heading the same way..Housing stock will get expensive and be in the hands of the rich...You will pay the rich generously for the right to rent their properties....We are all doomed....Except for the 5% of the rich
They will buy them to rent out to hamas supporters they will pay high rent
ââŠ. tsunami of guff âŠâ đđ
Thanks Charlie. I can clarify the question from m. I'm assuming that if house prices were factored into inflation data, the BoE would have raised interest rates a long time ago. Theoretically this would have curtailed the inflated house prices and kept them at an affordable level. Wondering if you've any idea why house prices aren't used to calculate inflation and what it would take to include them?
Ive often wondered this. I'm not sure if it's still on there, but the ONS used to have a section regarding their CPIH index discussing the challenges of capturing housing costs in their index and why they have gone with owner occupier equivalent rent as a metric. Personally, I think they deliberately leave it out so they can push up house prices while exporting CPI inflation to low cost producing nations by offshoring everything possible.
Good question.
Hi Charlie. Yes the economy is in a spiral but do you not think the mass migration happening to the uk right now will keep the market botany?
The market and price depends on how much debt a potential buyer can borrow. This is much reduced by the substantial increases in mortgage rate. The market is going down, big time, regardless of what an Estate Agent will say. These unrealistic reports will not have any effect, as confidence is not a substitute for money. Those saying these things are making themselves look foolish.
Love it Charlie, I know it's not the point but you made me laugh a lot! You are so right đ
Pick surveyors carefully, my partner recently sold her house, the buyers surveyor failed to pick up. Major issues, damp, roof needed replacing, repairs at an absolute minimum. Didnât pick up it was single skin, reported cavity. Not worth the paper it was written on. Good for the partner though!
West Central Scotland. - A family member recently struggled to sell their two bed apartment. It was weeks on the market. They had one offer and only two viewers - at the entry level - first time buyer - end of the market. This was after nonsense from pitching estate agents who told them they would sell within two weeks, get many viewers and the sale would evolve into a bidding war.
They then bought off market as that seller was also sick of estate agent nonsense. That says everything to me about what's happening in reality.
House prices can do one of three things go up, go down or stay the same. Theyâve never stayed the same and theyâve always gone up a lot more and than theyâve come down that is historic fact and although we are in a period of house, prices, stabilising, or even going down. If you to buy a house, it will be a brave man to wait a long time to buy thinking theyâre just going to keep on dropping
We are in unpresdented times we have come to the end of the fiat system and the next system is going to be a tokenised system we are going to witness a banking calaps you need to have gold and silver these assets can't bancrupt and has no counterpart risk silver is a gift for a generation
We've had two houses in our road on the market for about a year. Ever hopeful they seem determined not to accept that they are asking far too much. Seems stupid as one of them is a probate sale and the family are already well off. The others want to move to a cheaper area so could do if they were realistic. But no, both are completely inflexible. Makes me wonder what goes through their minds
Yeah but the Express is like the Sun, a comic book. I pity people who think it contains actual news :)
Owning a house should be your human rights. Housing should not be a market to make millions and zillions
That headline is almost as ridiculous as the idea they might drop by 35% đ
đ âđ»
To many M-Ps own several homes they will not allow houses to crash.
Thanks Charlie. Love your stuff. Following on from this - Is there a reliable resource for ACTUAL sold prices anywhere that isn't based data from 3 year old sales?
not yet - but hopefully soon BestAgent's Public House Price Index
House prices haven't moved where I am. They certainly haven't crashed in North Yorkshire, many are under offer within a week.
This isn't what first time buyers want to hear, especially if they are currently renting, and paying the very high current market price.
House sales are stagnant like mad in south Hampshire. No FTBs to start chains
You know things are bad with the economy when youâre looking to Labour for a fix.
And this is why so many people, left and right feel politically homeless.
What is your evidence behind that statement
@@annahunt8916 the statement that the UK economy is in a bad way?
The UK housing market is screwed. High interest rates, cost of living crisis. High inflation and inflated house prices. We need a 20-30% correction
Prices are just insane given that base rates are at over 5%, seen lots of houses listed at 50% + since last sale in late 2010's and some of them have nothing done or just a new kitchen, it's like painting the walls and fitting a 10k kitchen can make you rich now.
Just sold a flat in the east end of glasgow in 3 days for 20% over asking price. Its quite postive for 1st time buyers in scotland
Thank you for this info Charlie. Found you just recently and you have been very helpful. We are looking to downsize from large family home to bungalow. The cost of the bungalow is almost the same and half the size. The issue is we have a huge family itâs stopping us from making decisions but i think the cost of running the property lower long term. Hi five Teddy.
Affordability and demand are the only two factors that determine the prices of anything.
The corporate/legacy media has their job to do, and that job has nothing to do presenting a realistic picture; often quite the opposite!
Entertainment purposes only, bares no resemblance to reality.
@@diogenesegarden5152 Yeah, but personally I'd say it's more malevolent: 'distraction and division purposes mainly'. For example, there are reasons why they want to gaslight everyone about the economy and the housing market. In this case, it could be argued that it's for good reasons: keeping people in a more positive frame of mind, is better for 'the economy'.
But, it's a shame that they weren't so concerned about the economy a couple of years back!
So much of what you advise seems to assume best outcomes occur when one is not in a chain. Many of the choices one makes depend on the decisions of many other people including what is available to buy once you finally get sold. Who can afford to rent for several months ? Money down the drain and a major pain in the ass storing belongings and then paying for a second removal cost. It is hard to play hard ball when you are trading in your home.
With transactions taking 7 months in average with most mortgage offers only standing for 6 months and prices coming down I can see transactions falling through as buyers seek to renegotiate price a few months down the line.
Only way is to take a non returnable deposit to safeguard yourself as a seller
Most properties are in a bad state of repair. Too many homeowners see them as a pot of gold while neglecting them at the same time. I wouldn't pay a deposit.
True, about nominal but still many think there has been an unaffordable house price boom since 2010! Not realising that it was probably the best time to have brought until 2020. I mean interest rate were so cheap that you could have paid off your house in 10 years. Today with interest rates at 6% and 30 years term that 200k house is going to cost you 600k + overall! Ok 600k nominal but 400k real terms is still 600 k to find!!
It would take regulatory / reporting change for house prices to be factored into inflation. We measure it different ways already - RPI, CPI, Core inflation vs Service etc etc. Lots of ways to arrive at a number. In real terms (ie adjusted to todayâs pounds), housing is now at exactly the same level as June 2004. Trying to answer mâs question- not sure if it does.
Great point charlie on flat nominal values - wages have outstripped house price growth since GFC and real house price is at 2003 levels today. We are way below trend price - atm it's ALL about rates. 5yr SONIA swap back below 4% today. Next inflation print could push back down further to levels seen in Dec 23. No boom, but that will put power to the market. Savills are always wrong, go check their comical forecasts at turning points like 2007 but this could be their stopped-clock moment and Lucian called this one correct imho. I've been a seller since 2018, now I'm flipping back to a buy as an investor.
Really appreciate this video, I donât know why there isnât some more common sense or logic applied to the situation.
Things are not good, property is still very expensive, rates are still MUCH higher than they have been for a decade, there are still multiple global conflicts, one errant missile could genuinely cause chaos any day now.
Essentially, the risk is extremely high and I donât think house prices reflect that at all. For a first time buyer buying a 300k house, there is a very real chance you buy with a 10% deposit this year and the property is worth 270k in 12 months timeâŠequity gone.
totally agree on the businesses in trouble. I know people with businesses and this echoes their current experiences. economy is weak, and the fact big companies are rinsing people for petrol, fuel prices or food prices above what they should be isn't a sign it's improving; it's a sign they are hurriedly harvesting as much money as they can before the real collapse occurs.
I've been saying for years that one factor that is vastly understated is location. We have what I call property hotspots in this country and they are in and around our cities and the south of England.
People say houses are unaffordable and yet in my northern town one or two are actually sat empty and boarded up that they don't seem to be able to sell for any price. This is probably why a plan to build 6k new houses in the town has been kicked into the long grass for the last few years. What's the point in building any new ones when you can't sell the existing ones?
It's good for people like me though who despite only earning ÂŁ30k per year, (Which is a good wage for the town but not good compared to the uk average), because I bought my own three bedroom semi detached house on single person mortgage! My mortgage repayments are 1/8th of my monthly after tax income at ÂŁ250pcm.
The truth is we have a changing country. An example being my neice who was born and grew up in this town but is now going to university to study to become a medical researcher. That will mean after university she will move away from the town to a big city to do that kind of job. It also means towns like mine loose all their young people and are left with an older population whilst the cities become overwhelmed.
This diparigy in housing denands and costs is all a consequence of regional inequality. If true levelling up had been carried out whereby the good, professional jobs were more evenly spread across the whole UK instead of beung concentrated in just a few cities then the people would spread spread themselves out more evenly and those property hotspots in such as London and Bristol could be relieved somewhat because people would be more prepared to live and work in towns like mine and take up that vacant housing.
Then you wouldn't so much have the absurd situation we have in this country where you have someone like me on ÂŁ30k in a northern town buying a 1800sq ft three bedroom semi detached house on a single person mortgage for ÂŁ250pcm whilst such as in Bristol you've people on a wage three times mine camping roadside because they cant afford thousands a month in rent for a tiny flat.
but there aren't the brains and work ethic spread around the country. People up north constantly talking about wanting to be payed for overtime, when in the London office that was never a conversation. This happens a lot when companies move their offices north because it's cheaper, they quality just isn't the same.
What town is this?
@@thebigE2024 most I worked in Manchester for a major blue chip. They moved their head office from London and it just wasn't the same.
Interest rates are going up again 6% here we come
High interest rates means the rents will rise. When rents go up - they stay up. I've never met a landlord turn round and tell a tenant "you rent is going down this year". Lol
â@@RabJ208they'll just leave and go somewhere else. They aren't stuck in your filthy properties beyond their contract, luckily for them.
@@Paul-zu2hf, hi Jamie, rents are going up everywhere mate. It's not just me putting them up. Lol
@@RabJ208 mine isn't, hasn't gone up for 3 years, and isn't going up this year either!
@@Paul-zu2hf, exceptions don't disprove the rule Jamie.
Check this out Jamie. In England, average monthly rents hit ÂŁ1,276, a 8.8% increase year-on-year. In Scotland, they rose by 10.9% to an average of ÂŁ944, and in Wales by 9% to ÂŁ723. The data for Northern Ireland lags the rest of the UK, and the ONS reported a 9.3% rise there over the year to December 2023.
This kind of article just means it will take even longer, (ie, years), for sellers to get real with their asking prices. Many are still asking above peak prices. The unsold stock must be building up dramatically. Sensible transaction values can easily be a quarter to a third below current asking prices, so it will be difficult and time consuming to clear these properties off the market.
Many are asking 20% above peak prices.
around Birmingham small "starter homes" in the region of 160k-180k are selling fast, well within 4 weeks of being advertised. no signs of a crash for half decent house in a half decent area.
Birmingham? Decent area? đ absolute dump
â@@user-uc8jo4nq1pNot for Muslim buyers .....
@@user-uc8jo4nq1p like many cities in the UK.
This is my first ever uk property subscription since joining YT in 2016. Are they all this good ? đ i went looking for property news only because i saw that Express front page on the 'news' stand and thought WTF....are you serious?! I wondered what the experts would make of it. No surprise at the reaction here đ€Ł
Welcome to the channel!
Come on man, it's the Daily Basket Case. Anyone reading this paper is already beyond help.
You speak the truth, Charlie: the old adage, that property ultimately always goes up in value, is much more a reflection upon the currency that the property value is being measured with.
If it's not selling the price is too high. This applies to everything.
Another way of saying it.... Housing supply in the UK will continue to dwindle as it has been doing for years. The prices and all the other issues are simply a byproduct of this. I have been watching TV programmes where you can buy an abandoned village in Portugal, Italy and France for about âŹ100,000 so long as you're willing to put in the restoration effort. Same reason again in any market not just housing.... supply.
Charlie if i was a buyer i would watch your videos and convince myself theyre true. But they are not.
I am a seller and ive just been offered asking price and have had multiple viewings.
House prices will continue to increase and always will, bank rates will come down.
Ill be out the market for a year then will be buying somewhere bigger, no regrets. I say this and i would benefit if prices went down now, but its not going to happen
Well done for choosing a good agent and pricing correctly! If prices were rising I doubt youâd be out of the market for a year. That doesnât make any sense.
Iâve been watching zooplankton on an area Iâm interested in plus the valuation of my current home. Now zooplankton has ceased all valuations, for my area and others. What is going on? Are they too scared to broadcast the real bad news?
Good question!
Is that BOOM they go up or BOOM they get destroyed? đ I also wonder if this has anything with the Tories trying to build up optimism before the next election
Asking prices in my South Devon village for a 2 bed cottage have dropped from ÂŁ280k to ÂŁ260k ......
last thing we hant is hp in inflation basket as hps would drag it down!
Wages haven't gone anywhere either since 2007. Sellers saying things like, "it's not my price needing to come down, it's buyers' wages needing to come up to meet it." Yeah, right. Not going to happen. In the late 1990s, salary multiples reached peak affordability at around 3x. That was possible because of the aftermath of the crash in the late 80s and early 90s. Sellers got real.
Didn't minimum wage increased 10% this year, and 10% last year?
@@MalcolmXpat, đ€«đ€«đ€« can't say things like that because it might trigger an angry response. Lol
@@MalcolmXpatminimum wage is a lot different to median and mean wage. Itâs based on survival.
@@MalcolmXpat A rise in minimum wage won't have any affect on house prices because people on minimum wage can't afford to save for a deposit.
@@AM_o2000 my daughter and her partner have both just secured a mortgage while both in minimum wage, their salaries combined were over 42k and mortgaged a two bedroom house for 170k. Perfect starter home.
In Cardiff if the house looks very well maintained with a gorgeous uncluttered interior it will shift quickly. However there is alot on the market that is average and being reduced rapidly. The photos have to be very good.
Houses in Cardiff are not shifting, at all.
@@Mr_Sh1tcoin some of them most definitely are. But mainly the really beautifully done ones in desirable areas but not stupidly priced. So Canton, Pontcanna, Penylan
@@howareyou857 I disagree. It's the nice places that the houses are not shifting, including Penarth. I have one listed myself in CF14 for seven figures and it's not shifting (listed 100k under what most agents advised) and neither are any others in the area shifting.
@@Mr_Sh1tcoin well there you go. You priced it as too expensive initially and it may be in the price bracket of just a few buyers still. Houses are definitely shifting. I check every single day in those areas because I am looking to buy soon. I can predict the properties that will sell quickly. Anything over 550k will struggle. A decently priced 2-3 bed well done terrace in those areas will sell in weeks. I'm not talking about the mega properties on Plasturton Ave btw
@@howareyou857 no, I've priced it 100k under the market price for the sq ft. It is a bargain at this price yet this, and almost every other house for sale in CF14, Roath, Cyncoed, Penarth etc. are not shifting.
When the housing ladder becomes a sewage waterfall, even a greasy pole looks like an escalator!
A Poet Laureate.....đ
Would you buy a house without building regulations on a single storey extension? Theyâve offered us a ÂŁ35 indemnity policy and they think this is enough. Weâre first time buyers and have been saving for our deposit for over 8 years. If they wonât get a completion certificate, are we better off walking away or is there another way round the issue?
If in doubt, walk away. There will be other places. You don't want the risk or hassle.
Run đââïž a mile. With the thousands of properties available why would you buy one with such potential drama
check it's within bounds of permitted development. if it is then no dramas. You could try to get a discount for them not having thier sh1t together. I got 2k knocked of a house in 1998 for a similar thing (about 8k now). Good Luck
Which area is it west Yorkshire??
Why risk it in a buyers market?
I wonder how much the value of the pound has dropped? We might find that in real terms, properties have already dropped by 30%.
300k now is not the same as 300k 5 years ago.
Even if mortgage rates were low a price boom only helps those downsizing or selling up, given prices have risen by 66% since 2010 and wages are static at best you'd have thought a more prudent government fiscal policy would be to pursue a cooling of house prices combined with rising average wages?
What scares me though is the truth doesnât appear to matter. FOMO wins every time. Itâs this we need to challenge.
No chance. Also agents are over value.
20% over 4 years is basically treading water.
at 24 mins : my take on that fractured sale and price...... years ago I read a buying your own home wee book from a newsagents in ringwood..... talked about bankrupt buyers..... I think the people looking at your 500-575k house don't have the money but see the property as aspirational (hence they like it) but irrespective of the reasons they don't have the dosh to proceed. meanwhile you have a bullish agents trying to pull the buyers up to a price point they can't meet. my advice would be get an agent in who have buyers with proven ability to get mortgage of say ÂŁ535,000.
Good times boom times is here ..... whoppee ..... yeee ah...... keep your hat on Charlie â€â€â€
The only way houses will increase in value in terms of ÂŁ is if there is a total capitulation of the currency in international markets - not impossible to believe based on high national debt and interest rates!
Prices ARE up mate. Lol
There are estate agents that have been under valuing as well! Because some home are selling higher and others are selling lower⊠for the same properties and even smaller properties are selling higher⊠Iâm talking about good properties with nothing wrong in themâŠ
We are cash buyer's. No chain. Taking this time to travel. Have put
Offer's on property s.
6 % under the asking price. And have been turned down. It's Mad we will just wait.
Enjoy your travels. You won't regret it. I did that in the 80s when the housing frenzy was at its height. When I got back house prices had crashed and there was a recession. Happy days - I bagged a bargain! Best of luck đđ
I'm a cash buyer too, getting an 'extra wage' in savings interest now that interest rates are higher. Sellers are going have to factor that in, because I'm not throwing away that extra wage unless I get a very good deal on a property, but most of them are still asking 10-20% above peak prices.
I'm renting and have invested the money from the sale of my house. The investment gains are more than my rent, so I'll wait for house prices to drop further as the repossessions begin next year.
Whereâs Housing Stig? It feels like we need a proper rant! đ
prediction does NOT mean this WILL happen. A prediction doesn't come with any certainty.
Surely headline meant 'BOOM' as in down right? Normally something going BOOM is a bad thing....
Boom = up
Bust = down
Iâm sensing that youâre not buying it
quickly ... what is the difference between an expectation and prediction ?
"Transaction numbers are tumbling". Totally incorrect. Check the data. Houses are selling at a faster rate than they have been for a long time (Rightmove data). Wage inflation has been about 20% over the last 2-3 years yet property has reduced 3-5%. That's a 25% real terms decrease in house prices. Unemployment remains low. The markets are racing away as the rich have been sitting on millions and billions in savings but those rates are now no longer 5-6% so they've hammered their cash into the markets. Once savings rates are eroded and mortgage rates go down (could be a while) you'll get those same rich people throwing all their money back into property and then you'll get a 5-10% year on year growth again. I advertised a one bed flat to rent in Basildon last week. I had 75 different enquiries in 48 hours. There is no "guff" I'm afraid. Your parochial view as a pseudo journo has no empirical verity. You have no idea of the issue with shortage in the rental market or the real world. Rental prices have gone up around 10% over the last year simply because their simply isn't any affordable housing to buy or rent. Once the return on investment tips over a certain point you'll get investors and ordinary people piling back in and prices will sadly and ineluctably go up. That's what happens when something is scarce and sort after
Hammering their cash into the market ? To open air BNBs ?
@@EMEL-hr4ut The financial markets, where all other fake, lazy passive income lives. They're up about 10% this year alone aren't they? Great time to be a dividend collector and to support the perpetual wealth of billionaire global finance
House prices will continue to rise but the currency will be devalued.
Exactly!!! Good quality council housing for working people at affordable rents! The economy gets a shot in the arm wages go up people can afford to save a reasonable deposit to buy their first home then the housing market starts rolling again! SW Wales market is completely dead and has been for the last year +++
never going to happen
@@garethwilliams4467 We can dream!!đ
Prices are determined largely by scarcity. The housing market has scarcity, so prices will keep on growing. However - demand for 'particular property' is always changing, so you cannot attach the 'scarcity' argument to the entire market. A flat is London is scarce. A bedsit in Middlesbrough is not. People tend to chase the same butterflies.
blow off top coming in markets, buy property up here be the bag holder.
I agree that house prices are unlikely to rise, for the foreseeable future, but I don't think that there will be a significant decline in their nominal GBP value. This is because the gov will sacrifice the value of the pound, rather than let people see the value of their properties decrease.
Sacrificing the value of the pound means encouraging inflation, but as we've just had a couple of years of high inflation and will now have to deal with the economic fallout thereof, further sacrificing the value of the pound isn't an option and any efforts to do so will spook the markets just like the mini-budget did under Truss and Kwarteng.
Hi @@AM_o2000 thanks for replying. 'Encouraging inflation'? They already did that with all the money that's been created since the 2008 gfc, especially with the pandemic. Now they're facing stagflation, with their biggest worry being the banks, and probably people's perception of the value of their property. Both of these concerns can be solved by 'printing' more money, hence more inflation, and maintained perception of property value.
When they can no longer continue this sham, they'll do another reset, which will undoubtedly involve a move to CBDCs.
(Just my unqualified opinion)
@@seangallagher8233 They're already beyond the point at which they can no longer continue the sham. That point was reached in September 2022. Hence the markets' reaction to the mini-budget and hence my comment. It's also why the Government didn't announce any measures for the housing market in the recent budget.
â@@AM_o2000 So, what specifically is it that you're implying? Do you think that they're going to continue QT?
I think that Sept 22 was more a blip, that briefly highlighted the damage that they've been hiding since 2008. This isn't a UK centric issue, but rather a 'developed world' one; all fiat currencies are dying.
Again, it's the banks that they're most concerned about, and they'll continue to sacrifice everything else in order to protect them, which will likely maintain nominal property values, and consequently people's sense of financial security. There might be a short period of deflationary activity, but ultimately they'll do this until enough people realise what's going on and inflation becomes hyper-inflation.
@@seangallagher8233 In the simplest terms, I'm implying that the Government doesn't have the money to shore up the market, let alone try and boost it. As for QT (and interest rates), that's a matter for the independent Bank of England, so QE and interest rates aren't strictly in the Government's armoury. The Government will be looking at house prices and anticipating that there won't be a sizeable nominal drop between now and the general election and will refrain from introducing any demand-side measures, but I can foresee the Conservatives dangling a carrot for the electorate: 'vote for us and we'll introduce a stamp duty holiday', or suchlike. That won't spook the markets as much as a measure actually implemented, and will effectively serve as nothing more than a bribe to the traditional Tory voter base. Hyperinflation would be tremendously damaging to the economy.
wHy do you think the housing sector is so big in the UK?
Itâs not big enough!
Thatâs good people not selling the longer the bubble the bigger the burst, another 2 years from now big drop in house prices, people think interest rate to go down? Itâs actually going to hover around 5 if not even go up
There will never be a crash in the U.K. the demand way outstrips supply thanks to massive population growth and people living alone
They BS because they have large amounts of skin in the game. The second they sell thier assets they will say it's all gone to s--t as they sail away .
I very seriously doubt it. You have to take into account all the economical data and statistics and put them into the equation. On the contrary, prices will plunge. You can clearly see the difference prior, and after covid 19 and the US has never experienced such a rate of appreciation in the home market sector. This could be attributed to the subsidies given to BlackRock, Blackstone, and other big corporations that purchased residential real estate with free money at bargain prices while we the US regular folks were not given such a deal. Thus, at this time, the residential real estate market is in bubble territory as hardly anyone could meet the 28%, 36% front and back end ratios, respectively. Prices in residential will plunge as the economic cycle is bell-shaped and takes time to develop. Bybthevend of 2025, we would be able to better see it. The writing is on the wall, and we're already see the cracks in the residential real estate market.
45.45 ish... The 35% "expectation / prediction" question
Ah yes the Daily Express HOUSE PRICES SOAR meme from 2007 when SOAR and JOY were the words of choice as the headline alternated with those about Princess Di. With house prices ⊠you will never see the F word in the Daily Express. JOY AS HOUSE PRICES SOAR.
Daily Express has had two headlines for decades. PENSION JOY FOR MILLIONS or HOUSE PRICE JOY FOR MILLIONS đ€Ł
"house prices on the verge of a boom"
Meanwhile in the real world a house I've been tracking for a year just had its third 25k cut to the asking priceđ
Have you checked for structural issues or perhaps there's been a reason such as an extension that hasn't been approved. When you see big reductions - there's always a big reason.
@@RabJ208 I'm seeing reductions like this across the board. houses are just sitting on the market for months if not longer until they come down to a reasonable price
@@SUSSYMEMES, you're only noticing the propeties that are sitting on the market and ignoring the properties that are selling it seems. Average property prices are UP across the board.
@@RabJ208 I'm not. I've been tracking the areas I want to buy in over the last 2 years while I saved for deposit. Properties that have been priced fairly sold quick. Others that were too high only sold after they eventually were reduced
@@SUSSYMEMES, okay. As long as you know what you're doing.
I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Karen Cosmann.
Wow. I'm a bit perplexed seeing her been mentioned here also Didnât know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
You trade with Karen Cosmann too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
I very seriously doubt it.
Savills have predicted that house prices will rise by 30 per cent over next 5 years.
That equates to 4 per cent per year which is a standard increase since records began.
Pretty safe bet if you ask me !
Compare house prices to other assets and house prices look very low.
Boom is coming.
The property ladder still exists. Ok previously you might have started buying a flat or that 1980s rarity a starter homeđ then a larger home. Now you would buy according to condition and climb the ladder that way. The best homes for that are Victorian renovations.
A report out from building societies says itâs broken. No longer a thing.
I literally saw this earlier and felt as frustrated as you. That was just before I rang around ten vendors who wonât reduce as itâs my expertise not the market
There sacrificing pound to keep the housing market over inflated. 0.6 growth is a lie, government spending has increased by 0.6%, and there now includedgouvenment spending. Most mp's have housing portfolios and all they care about is themselves. Gold price went up after the decision to keep interest rates on hold, that's not gold going up, its pound coming down.
It is relentless Charlie, I agree. Just wait til the new (non tory) government get in, then suddenly the economy will be absolutely ruined and it will all be caused by the new government đ€Łđ€Łđ€Ł
But it's affecting our lives in the meantime.
"A whole new world of shit" : I agree.
"Plucked out of the arse figure" brilliant đ€Łđ€Łđ€Ł
Thank you Charlie.
21% over 4 years (2028) isnt a big boom. If inflation was 2% each year thats only a couple of % above .
Distraction technique because Tories are doing so badly.....at everything, including housing.
Hi Charlie, your HPI page is broken đ„
Thanks. Aware. Itâs undergoing an upgrade for larger volumes.
Another one appeared on local Rightmove yesterday. Bought at auction for ÂŁ284,000 in August 23. They've swapped the kitchen into the dining room and made the old kitchen into another bedroom (with it's external door still in place!) Kitchen is now half brown and half white đ€·. Lick of paint here and there and a tidy up of the garden........ ÂŁ450,000 đđđđ Morons!
Jackasses đđđ
Some of the advice is good, some terrible đ
If anyone else is bidding on a house Iâm not interested? I live in an area where 5-6 offers per property at the moment for most places that I would want
So what do I do just never offer or buy? Be sat here in 2 years doing the same
You will own nothing and be happy. WEF
They will sacrifice the currency to keep the housing market alive, therefore prices will rise due to a devalued currency but value will not increase.
Bankers want news like this before they lend out money
Makes a change from â hottest summer / coldest winter in 200 years on way â
We need a channel: Slurping Silently with Charlie.
Actually, maybe not.
Always makes me want a tea lol
đđđ
Ye rite
Couldn't quite figure out which way you think market is going charlie, up or down ? đź..
Stop sitting on the fence đ .
The conservatives clutching to a straw, that's all it is