Is the UK property market going to crash? NEW DATA RELEASE

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Conor Mckenna

Conor Mckenna

Aylar önce

Hi Everyone,

Welcome back to another video.

In this video, I take a look at the latest UK property data released by HM Land Registry and explore the chances of a UK property crash.

Leave you comments below! I look forward to hearing from you all.

Thanks

YORUMLAR: 12
Chris
Chris Aylar önce
Good video kidda, I hope you get more views and subscribers. We are now entering uncharted territory. A massive housing crash is coming within the next 2 years. Price declines, it's coming here this year and has already started. Property prices have increased massively in 2 years, now that is insane and it is not sustainable. Just like the stock markets, the housing market has been on steroids for the last 2 years. House prices have now hit their peak. Expect house prices to decline, although this will vary depending on where you live. Within the next 2 years we will see a housing crash like nothing before. All of this pent up demand we have seen during the pandemic will evaporate. People can forget the supply and demand argument because the economy is going to take a real significant downturn. The bond market is having its worst year in history and we are only in June. This will have a devastating effect on all housing markets, they are selling all over the world as interest rates are rising globally. This will hurt all financial assets. My advice is to people don’t get too confident about house prices not going down in the near future because you will be in for a big shock. A lot of people are saying this is different to 2008? I agree this is much worse. Only this time around we have had a global pandemic, 100s of billions of money printed for QE, rampant inflation, the highest records recorded for personal debts, a war and supply chain problems. This will be a lot worse than 2008, the demand for buying houses will just evaporate. To prove it is all pent-up demand in the last year here are true sales figures for UK properties year by year. 2018 = 1,190,070 2019 = 1,177,260 2020 = 1,036,170 2021 = 1,479,860 This is why they saying there is a shortage of properties, but really it is only pent-up demand created by the pandemic. In some areas expect between 30-50% drop. I know most of you will say no way but I can tell you the economy is going to collapse and we will be having a really deep recession. The BOE have got all their predictions wrong about inflation and will panic by the end of the year when they see inflation isn't going down, its only going higher especially with more Gas & Electric price hikes. The only thing the BOE can do is be aggressive in raising interest rates which could be 7-10% by the end of 2023. Consumer confidence is really low and people have cut right back on spending. This is already happening, which is affecting many business's profits and we will see many job cuts, it's already starting to happen. Also we will be seeing many business's go to the wall. Tenants won't be able to service their rents and many landlords will struggle and sell up losing lots of money. For you older folk like me if you think house prices will not crash, you must have a memory of a goldfish.
Conor Mckenna
Conor Mckenna Aylar önce
P.s, would love to have ya as a subscriber. 👍🏼
Conor Mckenna
Conor Mckenna Aylar önce
Thank you, and thank you for taking the time to leave such a detailed comment! I am reading through a couple of reports and some new data released by Rightmove, which if I’m correct, is pointing towards a slowdown in the housing market. Only time will tell. But, one thing is certain, at some point there will be a market crash. Whether or not that is within the coming months or coming years is to be seen. I do believe that now is the time to make as much money as possible and save as much as possible. Get rid of any high interest debt, and get ready for a recession. A recession may not come… but I do believe it’s more likely we will see a recession than not. And I don’t believe people are prepared for the hardship that comes with a recession.
michael edwards
michael edwards Aylar önce
you have slightly skewed figures, £31770 is a single person so a couple buying would double that to £63540 which multiplied by 4.5 equates to £286,000 which is 95% and means a 5% deposit of £`13,000 for an "average" price home. In my area a 2 bed flat sells for £120,000 plus and a 3 bed terrace for £175,000 and buying a place better sense than renting for £700 per month plus
Conor Mckenna
Conor Mckenna Aylar önce
Hi Micheal, yes correct. I tried to stay away from about couples too much as not everyone is going to be buying in a relationship. I know multiple people who are buying alone. So for couple, it’s easier to just double as you say. It’s also worth noting that 5% on a £286,000 property is not a lot… at 2.4% over 25 years you’re looking £1200 + pcm. When you consider the cost of living going up, that is just too much. Even if technically you can afford it. I’m on board with 5% deposits, IF you can sustain the monthly payments.
Conor Mckenna
Conor Mckenna Aylar önce
New data from the HM Land Registry has been released and it’s telling a different story to what we’re all feeling… Are properties prices going to crash? Let me know your thoughts in the comments.
Conor Mckenna
Conor Mckenna Aylar önce
Sure! Here you go - www.ons.gov.uk/economy/inflationandpriceindices/bulletins/housepriceindex/april2022
Chris
Chris Aylar önce
Have you got the link to the HM Land Registry please so I can take a butchers?
justsomeguy
justsomeguy Aylar önce
This is absolutely my reading of this too
Conor Mckenna
Conor Mckenna Aylar önce
It’s a very interesting time! A lot to be learned at times like these.
Nancy Hood
Nancy Hood Aylar önce
You need to learn to paint straight lines on that wall where it joins the ceiling behind you its a joke !!
Conor Mckenna
Conor Mckenna Aylar önce
The wall is being panelled, so no need for “cutting in”. But thank you… :)
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