There’s one thing that’s not in dispute: A fall in transaction volumes is bad for everyone who needs or wants to move house. It’s also bad for the multi-layered industry that makes it’s living from these transactions. A painful but cathartic rebirth of the moving industry is underway. Whatever happens to house prices as 2024… Continue reading 2024 will bring about the end of estate agency as we know it, in a good way.
Tag: housing
5 Fact Friday 10 Nov 2023 Mortgage Arrears jump 7% in Q3 2023
Halifax confirms it expects house prices to continue falling until 2025, despite the one month rise in it’s average house price index https://www.halifax.co.uk/assets/pdf/october-2023-house-price-index.pdf RICS survey for October shows buyer demand and sales activity in ‘deeply negative territory’ https://www.rics.org/content/dam/ricsglobal/documents/market-surveys/uk-residential-market-survey/10._WEB_October_2023_RICS_UK_Residential_Market_Survey_tp.pdf MHWC provides mathematical proof that house prices go down when the ‘average’ price goes up https://docs.google.com/spreadsheets/d/1tm4EzSBXTifKIRjPAoTUGW7td62SrPKee4jELjUxgzk/edit?usp=sharing RICS… Continue reading 5 Fact Friday 10 Nov 2023 Mortgage Arrears jump 7% in Q3 2023
“The Discrepancy” in house prices is a fact.
It’s significance is a matter of opinion, open to debate. By Charlie Lamdin The existence of a discrepancy between the Land Registry’s House Price Index figures, and the raw (unweighted, unmanipulated) median figures is a verifiable fact illustrated nicely by @alexgroundwater ‘s graph. You can check the raw data for yourself here: https://landregistry.data.gov.uk/app/ppd/ The discrepancy… Continue reading “The Discrepancy” in house prices is a fact.
House Price Fall Cover-Up?
There are lies, damned lies, and the Office for National Statistics. In the latest release, the ONS reported annual house prices to August 2023 actually ROSE 0.2%. https://www.gov.uk/government/statistics/uk-house-price-index-for-august-2023/uk-house-price-index-summary-august-2023 But the data in the image, taken from raw Land Registry data, shows annual average house price falls of -12.6%. Is there a cover up? Average House… Continue reading House Price Fall Cover-Up?
The UK’s House Price Correction has only just begun.
The house price “correction” if you want to call it that, is only just getting started. The “corrections” being applied will include correcting for: 1. 12+ years of artificially low interest rates 2. The effects of £1trn of QE now being reversed 3. The unwinding of the effects of Help to Buy on wider house… Continue reading The UK’s House Price Correction has only just begun.
5FF 20 Oct 2023
https://www.bloomberg.com/news/articles/2023-10-14/uk-jobs-market-has-one-recession-warning-signal-flashing-red 2. Rightmove October Index – Asking Prices down -0.8% yoy https://www.rightmove.co.uk/news/content/uploads/2023/10/Rightmove-HPI-16th-October-Final.pdf 3. Buy to Let party for 70%+ LTV is DEAD. -Savills https://x.com/luciancook/status/1713856335337476129?s=46&t=qGtk0CnhZbr405E5nhNA0w 4. ONS Land Registry House Prices RISE +0.2% yoy https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/august2023 5. Inflation stops falling. Stays at 6.3% (OOH up to 5%) https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/latest 6. Knight Frank to lay off up to 300… Continue reading 5FF 20 Oct 2023
“It’s carnage.” 5 Fact Friday 6 Oct 2023
Video of this: https://youtube.com/live/6I3p90LHE5QAudio podcast: https://www.buzzsprout.com/2109129/13728278 Confused mortgage comparison site says average house prices will fall £50k in 2024. https://thenegotiator.co.uk/house-prices-will-drop-50k-by-end-of-next-year/ Nationwide BS. Yoy unchanged -5.3%https://www.nationwidehousepriceindex.co.uk/reports/house-price-growth-remained-weak-in-september Rightmove rents https://www.rightmove.co.uk/news/content/uploads/2023/10/Rental-Trends-Tracker-Q3-2023-FINAL.pdf Roof falls in on house building as interest rate rises slash demandhttps://www.thetimes.co.uk/article/84662714-6368-11ee-aae8-b941e584b333 Halifax September House prices yearly falls accelerate https://www.halifax.co.uk/assets/pdf/september-2023-house-price-index.pdf
Justified Housing Rage
When it comes to the state of the housing market, there are millions of very, very angry people. This justifiable anger leads to countless statements containing a phrase like “All [insert group] are scum.” There is no group of people of any kind anywhere in the world who are all the same. This inaccurate oversimplification… Continue reading Justified Housing Rage