I've Started Viewing Houses - But The CRASH Is NOT Over! (UK House Price Crash)

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UK House Prices are currently FALLING at the FASTEST rate since the Global Financial Crisis, so why have I decided to START VIEWING properties NOW when house prices are widely predicted to continue FALLING throughout 2024?
The UK housing market crash started over a year ago, however, so far the major House Price Indexes such as Nationwide, Halifax, Rightmove and the ONS/Land Registry have yet to report any major falls. Even the most bearish HPIs only show that house prices have fallen approximately 5% over the past year.
In my opinion, these indexes don't currently appear to reflect what is actually happening in the housing market where some properties are seeing substantial reductions and those that are selling are often well below the asking price. If I make a buying decision based on the official data then there is a good chance I will be late to the party and miss the best time to buy a house in decades.
In the area I have been monitoring for the past 18 months, I have recently seen new listings with asking prices at least 20% below what they would have been during the peak. This to me is a clear sign that it's time to pay attention and if the right property comes up then it may be worth considering.
It will be almost impossible to time the absolute bottom of the market as we won't know that house prices have stopped falling until many months later. Also, it is very unlikely that my dream home will be for sale at the bottom of the market - so I will likely have to pay a bit more either on the way down or the way back up.
Are you planning to buy a house in 2024? How much will house prices fall in 2024? Let us know in the comments below!

Опубликовано:

30 сен 2024

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Комментарии : 239

@HonestMoney 11 месяцев назад

• Follow me on Twitter for my latest thoughts: twitter.com/darrenthedegen

@lee0b138 10 месяцев назад

Halifax said house prices rose by 1.1% last month 😂

@stephenkelly3001 8 месяцев назад

is that a joke sap

@CliveBirse 10 месяцев назад

As am American living here in the UK, I have always been dumbfounded on the mortgage market here. 2yr -5yr (rarely ever fixed) and renegotiate multiple times over the course of the loan. Too much of the UK's wealth is tied up in real estate. In the US, many have a 401k or reasonable pension to rely on for retirement. So, many have been brainwashed into thinking the only way to wealth in the UK is through property. Then, sell up and downsize for your retirement pot. Any sizeable correction in UK housing will basically cripple a generation's retirement and lead to bigger issues.

@Grace.milburn 10 месяцев назад

I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!

@ThomasChai05 10 месяцев назад

You are correct! Over the past three years I have been working with an investment coach who has provided daily guidance on my investment decisions. With their expert analysis, I have realized gains of over 850k. Their insights have helped me avoid losses and capitalize on market breakthroughs, particularly during downtrends.

@mariaguerrero08 10 месяцев назад

@@ThomasChai05 Would you mind providing details on the advisor who helped you?

@ThomasChai05 10 месяцев назад

CAMILLE ALICIA GARCIA maintains an online presence. Just make a simple search for her name online.

@ConorBrews 10 месяцев назад

Insightful... I curiously looked up her name on the internet and I found her site and i must say she seems proficient, wrote her an email outlining my objectives. Thanks for sharing.

@CameronFussner 10 месяцев назад

The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.

@ashleyclaire3029 8 месяцев назад

You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.

@ashleyclaire3029 8 месяцев назад

The advisor that guides me is Vivian Carol Gioia, most likely the internet is where to find her basic info, just search her name. She's established.

@KarlyNoorda 8 месяцев назад

Thanks a lot for this recommendation. I just looked her website up, and I have sent her an email. I hope she gets back to me soon.

@oktfg 10 месяцев назад

LMAO 😂 so he’s gone from a 5% ‘crash’ to paying a premium for his next house…..anyone think his Mrs rugged this youtube nonsense when the landlord increased the rent burning all the deposit.

@mneri 10 месяцев назад

He was actually saying "35% crash, but probably much, much more".

@oktfg 10 месяцев назад

@@robertjones2053 ITN news @10 opened strongly tonight with a housing market piece. Topic they’ve been campaigning on. Constrained housing supply, rising rents and section 21 evictions are creating a housing crisis. None of those ingredients promote the crash theory, quite the opposite. Until government sorts out planning and lenders start supplying loans to construct new homes to SME builders. The whole system which currently relies on a handful of PLC house builders who can only build 150k homes a year and understaffed council planning depts is doomed to keep repeating the same cycle making what is built largely unaffordable without a 35yr mortgage

@DavidJames-ms6rt 11 месяцев назад

Personally, I wouldn't even bother putting on my coat and wander down to an Estate Agents office. There are lots of overpriced dross about and some super overpriced 'dream homes' about, though beauty is always in the eye of the holder. The housing market is still a basket case and completely overpriced based on nothing but deluded individuals thinking that world is wonderful and that they are still millionaires, even that's the amount of debt they are in....well maybe not that much but unsustainable debt none the less. 2024 will be a very interesting year!!!

@mayurpc4829 11 месяцев назад

Agree, but i think the reason is mainstream media not reporting a big fall in prices. Sellers are not always greedy it's just that if you not buying then you don't know what the market is.

@Bubbles77418 11 месяцев назад

@@mayurpc4829Joe public may not be aware of what's going on but the Estate agents sure as Hell are! The words head & sand spring to mind.

@Leapops 11 месяцев назад

@@mayurpc4829the mainstream media have not reported a large fall for simple reason there has not been one (yet)

@Littletime839 11 месяцев назад

Nothing is overpriced or underpriced, the price is determined by market forces so everything is market price or close to it. You may not bother but enough others do.

@mduffy4861 10 месяцев назад

💯

@andrewtaylor6737 11 месяцев назад

Bottom of the market will take years, just wait until the recession starts to bite - inflation is here to stay. The good times are over, the pain hasn't even started yet & still in the honeymoon period but the free money is drying up - fast!

@Littletime839 11 месяцев назад

Very good, have you considered applying for a job at Bloomberg or Reuters?

@andrewtaylor6737 11 месяцев назад

@@Littletime839 Good idea, lol

@WillyJunior 10 месяцев назад

Nah

@andrewtaylor6737 10 месяцев назад

@@sjt627 Close enough 👍

@andrewtaylor6737 10 месяцев назад

@@WillyJunior Yes! The world is bankrupt, Britain is insignificant in the bigger scheme of things.

@TomBarratt-rd7gf 10 месяцев назад

What happened to the 35% drop he predicted 6 months ago..!!!!!

@John-ks6si 10 месяцев назад

Any day now 😁

@mneri 10 месяцев назад

As I said many, many times in my comments: houses are expensive, but the alternative is renting which is even more expensive. The longer you wait and rent, the more you waste.

@swimgood3873 5 месяцев назад

Lol still not dropped

@Leapops 11 месяцев назад

Sounds like Mrs Honest Daz has become totally pissed off with all the restrictions associated with renting!

@johngoss164 10 месяцев назад

Hes fed up of paying ridiculous rent, thats what really is going on here.

@SIXTl6 10 месяцев назад

Next title: How to save money renting from your wife's boyfriend! (House price crash)😂😂

@pr5779 11 месяцев назад

I've enjoyed watching your weekly effort to convince yourself that timing the market is a good idea. Seems you're now trying even harder to convince us that you aren't about to ignore your own preaching. 😅

@pr5779 11 месяцев назад

Honest Money: sell your house and time the marker to buy back in. Also Honest Money: different areas and properties change at different rates and its impossible to predict so maybe just buy randomly now like me 😂

@Leapops 11 месяцев назад

@@pr5779Mrs HM has had a word in his ear! Some things are more important than money!

@oktfg 10 месяцев назад

I suspect his Mrs put an end to his dreams of influencing the U.K. property on RU-vid. Making your family intentionally homeless and at the mercy of a private landlord who not only controls the level of rent but has the power to evict you anytime with an S.21 order to make property crash videos for youtube was always a bit crazy. Common sense prevails. Now he’s acknowledging that he may need to pay a premium to buy the next house having given away equity and incurred selling costs disposing his last home.

@Leapops 10 месяцев назад

Not to mention the impact of the increase in mortgage rate since selling. Had he not sold he could of got a ten year fix at ultra low rates but now will face a much bigger rate.

@twominutesturkish6664 11 месяцев назад

People in London don’t even think of a dream property Just a property

@Nakx95 11 месяцев назад

I'm thinking of getting a passport and leaving the country

@edc1569 11 месяцев назад

@@Nakx95used to be easy, then we voted for Brexit.

@pabloes588 10 месяцев назад

What you on about my friend just brought a 3 bed terrace for £580k it’s a 15 min tube ride to the city for his job

@Nakx95 10 месяцев назад

@pabloes588 bet the monthly repayments gonna look crazy.. I really hope it's worth it for your friend.. at that point, one should wonder if their money is better spent on a property elsewhere. Not gonna bet the house is new in pristine conditions, but even if it is over 1.5k in monthly repayments alone is not it. Who knows, maybe your mate bought it in cash or had a very large deposit - all these details matter when posting these comments.

@bdoubleeb3039 10 месяцев назад

‘We don’t have huge supply’ ‘there are large numbers on the sidelines’ - doesn’t sound like the right circumstances for a crash to me……….

@mannybee536 10 месяцев назад

Not currently, but keep in mind those on the sidelines are not willing to pay current prices

@_.dace._ 10 месяцев назад

may have to, or not much lower rather@@mannybee536

@DaKoolDude 11 месяцев назад

Clickbait video again...

@mneri 10 месяцев назад

Glad you shared your change in opinions. For a year you've been saying: "It's about to crash, if you buy now you'll get in so much debt and negative equity that you won't recover in a lifetime". Now you're going for a hell of a U-Turn saying: "I'm looking at my personal situation, looking at my local market, if it's my dream home I won't wait even if it costs more but I can afford it", which is exactly what me and others have been writing for a year in this comment section.

@mneri 10 месяцев назад

I have a friend in Cambridgeshire looking for a new home for a year now. He constantly gets outbid. Houses still go 10-20 grands over asking price. In the meantime, his rent increased by 80%. As I've been saying for a long time: prices are crazy, but what's the alternative? Rents keep going up and up. I bought my home a year ago at the peak of the market. My mortgage is exactly what my rent would cost me but my house is three times the size my rental was.

@barmy_irooni 10 месяцев назад

@@mneriif your friends rent increased by 80% how can that be how much was it before the increase & dust he just agree to it?

@mneri 10 месяцев назад

@@barmy_irooni Went from £950 to just under £1,700. It was a bargain for the area before, it's on the high end now. You can find similar properties in his area for £1,500 maybe. He was expecting the increase for a while.

@James-yl3kk 11 месяцев назад

My friend just had an offer accepted for £640k but the seller originally wanted £750k because purple bricks told them it was worth that. Took them a good year to realise though.

@RobertGillontheinterweb 10 месяцев назад

Purple bricks properties are always over valued because they charge upfront and don’t care whether it sells or not

@James-yl3kk 10 месяцев назад

@@RobertGillontheinterwebprobably not worth £640k either, but that's what they paid

@RobertGillontheinterweb 10 месяцев назад

@@James-yl3kk a house is only worth what someone is prepared to pay for it and in this case someone paid £640k so that’s what it’s worth.

@garnhamr 10 месяцев назад

isn't it terrible? these estate agents get paid alot of money and they're fuckin useless. It's not just PB either@@RobertGillontheinterweb

@fredflintstone1428 10 месяцев назад

Correct.....in fact that's about the most common sense comment I've seen on this channel.@@RobertGillontheinterweb

@offshore.anglers 10 месяцев назад

You'll be really old mate by the time you've waited for the best time to buy. I hear from these people all time. I'm not worried about when my fixed rate ends and i dont know many people who are. I'm earning plenty more to pay it. Wage inflation remember? Keep hoping, keep wasting money on rent....

@sebluketravis2438 11 месяцев назад

It's the start of the reverse hockey-stick until early 2025.

@stuartjohncock4037 10 месяцев назад

I believe you sold your home to 'time' this market. You will need a much bigger crash than what we've experienced for this decision to pay off. And I also wouldn't call what we've had a 'crash'. It is a slowing. Let's not forget pre this 'crash' we had the fastest growth period since 2008, so most won't even notice it. Mortgage rates are also dropping pretty fast now, so I can't see many needing to sell as a result. By the time you've bought a new house you'd have spent around £8k in buying/selling fees and also spent around £20-30k in rental payments which ordinarily would've gone towards your mortgage repayments. That's about £30-40k cost to you (some unseen). So based on a house price of £300k, you'll need over a 10% drop in house prices before you start seeing a difference. This is compounded the longer you choose to rent and also assumes you sold at the peak and buying at the bottom

@Leapops 10 месяцев назад

Don't forget the increase in mortgage costs. When he sold he could have got a very low long term fix and now it is going to be (say) 5%. That is a big loss on top of everything else. The housing guru that is Honest Daz got this one wrong big time.

@stuartjohncock4037 10 месяцев назад

@@Leapops you're right. I'm glad someone else sees it. Seems he keeps putting out material to support his wrong decision. You don't buy/sell houses to time the market!! It has to be a huge swing to get it right but he doesn't seem to cover that. Don't dispute the market has dipped, but there is little people can do to with that info. You're better to just stay in the market and ride it out. Houses are a long term investment, always have been and always will be. 2022/2023 will be a just a blip when you look back in 10/20years

@Leapops 10 месяцев назад

Yep, once you leave the parental home you have to live somewhere and most people, once they have bought, never go back to rented so you are looking at, say, a 50 plus year investment. Over that time you will experience a number of booms, some dull periods and a few crashes. In fact, I don't see my home as an investment at all.@@stuartjohncock4037

@mannybee536 10 месяцев назад

This is kinda bullshit. 'Mortgage rates are dropping pretty fast now?' Are they? They've stabilised at best, and will likely be kept at 5% for the next 6-12 months. We're not going under 4% anytime soon.

@adm58 11 месяцев назад

I'm looking too (Manchester, low end of the market)- and have seen no reduction in prices at all yet. Definitely, nothing that I'd remotely describe as a crash.

@Littletime839 11 месяцев назад

In Birmingham they're going up

@dinnerlady9784 10 месяцев назад

In Liverpool they're going up. This guy is talking through his hoop.

@user-xj6mk7qx1x 10 месяцев назад

Same here. South mcr prices just silly and nothing coming on the market except horrible stock

@mannybee536 10 месяцев назад

@@Littletime839 depends where youre looking. Im actually seeing some decent properties popping up in the last 6 months whereas before it was actually insane.

@JG-fg1ye 10 месяцев назад

House prices went up last month, Darren is still delusional

@mejohnensor 11 месяцев назад

This guys hilarious! I’ve been saying the same thing video after video and I’m one of those “deluded” people he has been slating video after video - he has been paying someone else’s rent for the last 2 years!! And will be borrowing at a far higher rate than he was/would have been when he sold! He then turns round saying that if he buys a property that ticks all the boxes and the housing market still goes down it doesn’t affect him as he isn’t selling!! 😂🤣 he’s been served notice and all the rents are going up so he’s chasing his tail now to try and brave face 😂😂

@bye-72 11 месяцев назад

Wait for land registry figures, which will show cash buyers.

@twominutesturkish6664 11 месяцев назад

Prices are still mental

@mateo_dequ 11 месяцев назад

The property market in North West is still hot. I Guess it;s Londoners who are buying the cheap houses in Manchester, who don't let the crash happen.

@annacomnena217 11 месяцев назад

I'm in South Manchester and I'd say prices are down at least 10% since last summer.

@DiscoDrew 11 месяцев назад

I’m in north Manchester. In a lot of areas prices are falling. 3 beds not as much.

@mateo_dequ 11 месяцев назад

@@DiscoDrew Prices are down indeed, but the market is still very fast. I will be potentially moving form south into north Mcr

@daliaa5294 10 месяцев назад

I agree. I don’t know why Londoners keep coming here . So annoying

@PaulaDavies-pw1vh 10 месяцев назад

Asking prices have come down roughly 5-10% in Liverpool but that is what they are asking , offer 10-15% less and see what happens, my gut is that this is what a lot of properties are actually selling for, asking price is the asking price, that’s it - there will always be sellers who are holding out for their massively inflated price but there are enough who can’t/aren’t now

@jameswilkinson150 11 месяцев назад

As an agent I believe that the market will bottom out towards the end of next year. Obviously I don’t have a crystal ball but our analytics suggest they will continue down until towards the end of next year. This is what we think anyway..

@mattj905 10 месяцев назад

Why do you and your analytics think this? What market forces are going to make them start trending upwards in a few months time??

@richardlongmuir8348 10 месяцев назад

Think you are about right James,although alit depends on the economy and jobs etc

@richardlongmuir8348 10 месяцев назад

@@mattj905he said the end of next year not this

@dalskiBo 10 месяцев назад

Average 2 year from peak to trough, 5 years typically to recover. I think this time will be a little longer (3 - 4 years peak to trough and around 8 years recovery) as i think this will be a depression; not a recession as there are so many factors at play which would be bad on their own - combined they are colossal: Covid, low interest rates, 2008 price correction not allowed to run it's full-market-correction due to bank bail-outs... over-leveraged debt, unemployment increasing, artificial inflation (stamp duty during covid, help to buy, global recession, global overpricing of property [biggest bubble ever seen]...), quantitative tightening...

@BORCH2212 10 месяцев назад

The first necessary to do is to scrap the "London green belt" to build as much homes as needed. Most people against it are not ecologists, are owners of houses happy with the pressure on the market and prices rising. The second thing is to start ti demolish too many houses in areas with good commuting links and replace them with buildings of flats. For example, Stevenage has about 10houses/ha, a normal neightbourhood in countries in sourhern Europe has 120flats/ha. Very important: ban foreigners not residents to buy real state.

@John-ks6si 10 месяцев назад

I could be wrong but in Darren I get the impression of a man who's put his life on hold for a couple of years on the off-chance he'll save a few quid on his next property. Will it have been worth it? 🤨

@christianad5358 10 месяцев назад

spot on! @@robertjones2053

@AhmedKhan-hs5th 10 месяцев назад

So you’ve basically just tried to time the market. You would have had to pay all the associated taxes and rent for a period of time and go through the hassle of moving etc! Seems economically naive and then trying to influence people! lol

@dazzwsmith 11 месяцев назад

Nothingburger of a video going back on your previous advice that ignored local market conditions and your desire to buy at the bottom. Guessing you've now realised renting is dead money and home ownership is a highly personal and situational transaction. Welcome to the real world.

@SilverWong-yo5iu 11 месяцев назад

I am currently renting and my cash savings is earning around 6 % interest, more than enough to cover my rent，I don't mind waiting. Welcome to the real world😂

@edc1569 11 месяцев назад

@@SilverWong-yo5iudo you not worry about inflation getting away from the government? It seems like a gamble with some fairly limited opportunities.

@SycAamore 10 месяцев назад

@@SilverWong-yo5iu I'm doing the exact same thing! If you have cash and you decide to bury it all right now in a house, I would question how you're able to get all that money in the first place🤣

@SilverWong-yo5iu 10 месяцев назад

@@SycAamore What do you mean by how you get that money?

@ssjd396 10 месяцев назад

Nothingburger of a comment. The usual RU-vid cockwobble know it all.

@MovingHomewithCharlie 10 месяцев назад

Thanks for the shout out Darren, and good call. Glad you're "getting out and viewing"! That's the only way to know what's happening where you want to buy.

@PaddyIrishman 11 месяцев назад

5% is not enough. It's not a crash! We need 40%+

@Littletime839 11 месяцев назад

I need a Jaguar I-Pace but want to pay Honda Jazz price for it

@Nakx95 11 месяцев назад

Is leaving the country an option? Cause I've been contemplating doing just that. I saved a deposit for so long n I don't feel like spending it over a terrible overpriced property

@PaddyIrishman 11 месяцев назад

@@Nakx95 I lived in the UK for 11 years. I now live in Portugal. I'm also waiting for a property crash. Almost all Western countries find themselves in the same situation.

@edc1569 11 месяцев назад

@@PaddyIrishmanisn’t rampant inflation the more likely outcome?

@Littletime839 11 месяцев назад

@@Nakx95 it's the same in every developed country

@monkeytennis2482 11 месяцев назад

You're mad, 2023 will be the first year of falls, like a reversal candle on yearly chart, then youv'e got 6 more consecutive years of falls to 2029.

$@fractionaldebtisfraud2187$

@fractionaldebtisfraud2187 10 месяцев назад

Pretty rubbish explanation. I was working at the sharp end of the real housing bust in 1990-1993, when "negative equity" first entered the lexicon of uk language. Inspite of john major's government trying to stimulate the economy, his and norman Lamont's attempt at dabbling with the eu's exchange rate mechanism, backfired badly and only served to cause more financial fear such that house prices kept on falling right up to 1999. It was only the new millennia, the Y2K tech stock boom, interest rates down, was a smidgen under 5%, the sudden surge in the jobs market related yo y2k that finally started to turn things round. At the sharp end there had been so many house repo's in the earlier part of the decade that many were characterized by mortgage defaulters not even bothering to wait for the Bailiffs to turn up. What the bailiffs often found was an already empty house, with the keys on the floor in the hall posted back through the letterbox. The hard times have only just begun. There is no real sign of a shortage of money. I live well outside london. The shops and restaurants here are invariably busy, people seem to have soaked up the staggering energy price rises. If/when the unemployment numbers start to go up in the direction of Thatcher style 3.5million, then there will be a (hollow) recovery. I say, "hollow," because it will once again begin with interst rates going lower and possibly modest money printing. We never learn.

@Leapops 10 месяцев назад

1989-1994 was definitely worse than what we are experiencing now. Obviously things could get worse from here on but it has not happened yet. Where I live prices bottomed out around 1994 - they were rising steeply by 1999.

@fredflintstone1428 10 месяцев назад

Yup, lived through that one. The thing is this. Everybody always expects tomorrow to be like yesterday. When Labour started reducing interest rates and those interest rates then stayed low for like 20 years, people think it will always be like that. There are far too many factors that are screaming downturn and recession for me to think that there's nothing ahead other than doom and gloom. Time to buy a boat and head for pastures new.

@Cherpontcarp 10 месяцев назад

There is no crash 🤣🤣🤣🤣🙈house price’s are stable, I’m not sure what the hell you keep banging on about 🤷‍♂️

@christianad5358 10 месяцев назад

he is too stubborn and proud to admit how wrong he has been since more than 1 year ago hahha

@hughgallagher 10 месяцев назад

Interest rate yield curve is now nearly at un-inversion which is a historically accurate signal for recession between 6 to 12 months away... you would be buying BEFORE the economic damage from interest rates/inflation has materialised. You are just as likely to buy your dream home at ( or near ) the bottom as you are now. "Buy when others are most fearful"... There is not nearly enough fear out there yet

@nicky_nike 10 месяцев назад

The bottom will be easy to see, it's when most are broke and deep in negative equity. The market bimbles along for a couple of years. If you miss it by say 6 months, the rise in price will be very little, but a lot will have been saved. Or are you expecting the Bitcoins to do well? 😁😁

@ecoterrorist1402 11 месяцев назад

I'm sure in that video, there was a hint of 'Supply 'N' Demand' there somewhere. I wish you well in the search for your home. Now, as for the 'I want a 40% drop in the markets' in the chat. Grow up, work hard, and maybe you will also get your dream home as well.

@Nakx95 11 месяцев назад

Yup it really took me a run of the Halifax mortgage calculator and a few searches on right move to realise I'm better off fleeing the country n look for a solid house elsewhere. I could never afford a good home nearby london.

@edc1569 11 месяцев назад

For me if I had anything over 30% equity, I’d want that in bricks and mortar, I don’t trust this and forthcoming governments to not let inflation run and run.

@monkeytennis2482 11 месяцев назад

WE havent got huge supplies because we are still turning form a bull to a bear market, wait till 2029 when the world and his wife are needing to sell, full bear market, not seen since 1995

@nickb2541 10 месяцев назад

Did you sell your house or have you always rented? And what is your definition of a "crash" in the context of property? Bcos if you sold your house in the expectation of a price fall, have you taken into account all the transaction costs (SDLT when you re-buy, selling fees etc etc) and the cost of renting in the meantime (and insecurity that comes with that). Plus the hassle factor... It makes little economic sense to have sold, unless we get at least 20% decline. A "crash" as per your dramatic headlines.... is a min of 20% (ref. the 90's etc etc). The housebuilders just stop building... so supply will fall even further behind. And with interest rates now 5%ish... all the savers (older gen) who have a high propensity to consume, will support the economy. I think we are in recession now,,, though not yet in the numbers... and yes house prices have falled and lilely will soften more,,, but the lack of supply, higher wages and pent up demand will likely mean price falls are contained....

@mneri 10 месяцев назад

He sold his property a year ago waiting for the market to crash and buy low. He says it in one of his older videos.

@EpicSlug 11 месяцев назад

The house price data is for mortgage issued on houses that agreed a sale 6 months ago. You can't wait for the bottom for that data or you're 6 months too late

@SUSSYMEMES 10 месяцев назад

I'll have my 40k deposit ready in February. Gonna start looking shortly after then with the hope of making offers in July august when I've saved a bit more for secondary costs. First time buyer with my gf. 75k combined salary so will see what value property we can afford.

@justjacqueline2004 10 месяцев назад

Surprised at how many cash buyers your talking about,although it is surprising how many foreigners are paying cash for houses here in Chelsea.

@SDrtheone 11 месяцев назад

This guy honestly....

@Jason-hl8uj 10 месяцев назад

Are you a politician by any chance?

@whoareyou8167x 10 месяцев назад

Hardly any reductions here in Wales over the last 12mths.

@martinhammett8121 10 месяцев назад

Even if house prices are flat the effect of inflation means they have lost 18% since Oct 2021 & even if head line inflation stays at 4.7% (which it wont as the only reason it went that low is that energy cost dropped by 31% due to the price cap) by next year real prices will be nearly 23% down

@SycAamore 11 месяцев назад

I just put my money in 1 year fixed bonds paying a juicy 6%. I'm convinced that the real correction will be clear by mid 2025, in the order of -30% from the 2022 peak. Also, don't forget that Labour is coming to power next year! Investors are terrified by that and they'll dump even more properties. Any purchase made now will be a very, very bad deal. Mark my words!

@Leapops 11 месяцев назад

It was 35% ten minutes ago. Losing faith like Honest Daz is? Are you convinced of 35% nominal or 35% real?

@SycAamore 11 месяцев назад

@@Leapops Are you for real? Chasing me on RU-vid? No one knows the exact drop. I think it will be -30-35% in nominal terms. Prices went up +25% in just 2 years. So even -30% will NOT be a crash...Well, that's in case you haven't accepted this monstrous increase as the most natural thing in the world. You don't seem to be in that group...

@Leapops 11 месяцев назад

If prices went up 25% then they only have to fall 20% to get back to the starting point. They have already fallen about that much in real terms in the last 15 months. 35% nominal by your 2025 timeframe is well over 50% real. Absent some black swan event that seems pretty unlikely to me. Clearly Honest Daz has come around to that viewpoint too.

@Leapops 11 месяцев назад

If he can accurately predict where short term house prices are going then he is a lot smarter than me. Presumably he is on a private island somewhere squandering his billions made from these accurate predictions.@@andrewbarton3040

@davewright9312 10 месяцев назад

@@Leapopsfigures for my area show a drop of 1%for the last 12 months....so hardly worth whining about

@korclo 10 месяцев назад

I think just the fact that you haven’t got everyone outbidding everyone now is a big factor. Sold my house in 2022 and got 35k over the listed price, and that was 25k more than the other best and final, then I went and bought a house 53k less than the house next went for because they had 11 people bidding for it and I paid 5k less than the asking price because I was not bidding against anyone. Yes it was a bit of a mess and needed work, but I was in a win win with sale and purchase. Middle of last year houses would come up and be fully booked in a day, now there are so many reduced. So regardless of the actual house price figure what estate agents are valuing them at, that’s still probably 10-30k less than the sold price from competition. So I agree with you, if the right house comes along, go for it, maybe go in a little lower if you can but you’ll still be way better off than all those people who were out bidding everyone by 1000s on already inflated prices and are probably in the red already and are going to get a lot worse

@aisha.m 10 месяцев назад

FTB and 💯 relate. There is less competition from other buyers right now and they are hesitant to outbid. I’m currently in the process of purchasing a probate property and when I went to view - there was lots of interest, asking price had been reduced by 7k, one offer on the table was pending and many more viewings booked. I guessed that the sellers were still allowing viewings because they had received a low offer. I made a gut instinct decision to make one best and final offer - to my surprise it was accepted the same day - agents/sellers cancelled all other viewings and property was off the market. Sellers had grant of probate and wanted to begin the conveyancing process asap, as a goodwill gesture they’ve also kindly offered to leave the kitchen white goods within the purchase price. The property does need cosmetic and renovation work, but I still cannot believe that I managed to get a reasonable offer considered, accepted and no outbidding from another buyer. In the valuation survey, the lender has not considered me at risk of negative equity either as the purchase price is a lot lower than other properties in the area. I agree that when you find the right property to trust yourself and proceed ahead. A lot of people are wanting prices to come down further, especially FTBs, but properties like this won’t be on the market when they do. Also, if there are cash buyers waiting in the sidelines, then the chances of securing a property will be even lower.

@greydoesthings 10 месяцев назад

I just missed out on my dream property because I don't know until next month whether I will be in a position to buy until next year, and an offer has gone in for the asking price this past week.

@bbdj2779 10 месяцев назад

Crash is not over… LOL!! We’ve barely had a correction, forget about a “crash”. You will know you are at the bottom of the market when the environment has clearly shifted to a buyers market with plenty of selection. Trust me, when the panic starts there will be no shortage of inventory. Your generation has yet to experience this. Buckle up.

@gerardcarson2584 10 месяцев назад

If u buy a rental property in a busines in cash is the full purchase price tax deductible?

@888ssss 10 месяцев назад

two things every investor needs. crypto and property investments.

@daliaa5294 10 месяцев назад

The houses are still overpriced in my opinion.

@marklanahan7289 7 месяцев назад

I'd be stacking silver, food and meds.

@bradsmith9689 11 месяцев назад

Couldn't agree more, buy now, renting is dead money. The typical rental property has many onerous conditions attached, you can't do anything, it's not yours.

@DaKoolDude 11 месяцев назад

6% interest is also dead money lol

@gingermattb 10 месяцев назад

"Dancing next (on the head of a pin) with a I've-had-my-ass-handed-to-me by-the-wife-for screwing-our-financial-future shuffle, it's Honest Money!" 🤣

@shoibyounus8126 11 месяцев назад

Why all your videos have different opinions?You don't agree on the house crash on your own videos. It won't happen as the demand is still all time high.

@DaKoolDude 11 месяцев назад

He recycles the same content

@the-keep 10 месяцев назад

Chill. There's no point in trying to catch a falling knife.

@evorealtime 11 месяцев назад

Cash buyer on the sidelines, a year after selling. Moving to another rental as the landlady wants it back for her family. New rental is 2.9% of asking price, including property tax and gardener. I will wait. Last time rented for 5 years and increased purchasing power by 50%. Sold a year before the top, bought at the bottom. This time sold at the top. What happens next…

@edc1569 11 месяцев назад

Inflation totally screws you?

@SycAamore 10 месяцев назад

Same here. You have to be crazy to bury all your cash in a house right now. Put it all in one year fixed bonds at around 6% to pay for your rent, then come back end of next year, and start hunting for real bargains...That's all I can say, and that's what I'm doing right now...

@evorealtime 10 месяцев назад

@@edc1569 That is a concern, but the net position presently is about 7% gain in house price purchasing power taking interest + nominal house price change - rental yield excluding property tax. When rental yield (through reducing prices or rental increases) and interest rates converge, then it will just be down to nominal prices. This helped me decide to buy in 2011 at near the bottom in real terms.

@Leapops 10 месяцев назад

I am guessing you are not based in the UK. The rental market here is totally dysfunctional - Hardly anyone would voluntarily sell their property and choose to rent in the UK as the rental risks are so high. Also with your impeccable market timing I am surprised you do not own your own private island. 😇@@evorealtime

@evorealtime 10 месяцев назад

@@Leapops Isle of Man, was UK until last year. Rental market similarly dysfunctional. I would say my market timing was poor as owning 2011-2022 only gave about 3% annual return after improvements, before inflation. I would have been better continuing to rent and using the money elsewhere.

@manishg214 11 месяцев назад

My neighbour put his house on the market just over a year ago for £750k, is now reduced to £620k and no one is even viewing. Will offer him £550k which I think is more realistic. They need to sell as they are a retired couple and don’t need a 4 bed and want to downsize.

@davewright9312 10 месяцев назад

If they are a retired couple they probably have no mortgage and own the house outright so are under no pressure to sell the house. They can probably just wait out any dip in property prices and wait for the inevitable rapid bounce back that has happened historically after every time there has been a dip...they are probably old enough and wise enough not to worry or listen to the apparent doom and gloom merchants that seem to populate this site

@WillyJunior 10 месяцев назад

Ouch

@connormcleod9595 10 месяцев назад

Not looking till 2025. Corrections usually take 2-4 years. Only just started. If you want to end up with negative equity go ahead😂

@pablopablito9990 10 месяцев назад

Mate am not being rude but when you say Uk what do you mean? I can tell you what's happening in Edinburgh i have been observing the market since 2021 almost every day and guess what prices are still rising not noticed any drop at all so think you must be talking about different Uk to the one i live .

@ROSE-mq3qd 10 месяцев назад

Thank you for sharing that you’re not a home owner - it’s helps to know you’re sharing personal experience as well 🌟

@stephenkelly3001 8 месяцев назад

honest shit lol

@damoclesmog1021 10 месяцев назад

To be honest this video is such a U-TURN from all the hard work you've put in throughout the year. I feel as though you're seeing 10%-20% reductions and this is dragging you back in. Admittedly, I also have been tempted back in, however there is no opposing argument for the market to recover so it will indefinitely decline till EONY. Logically, the variables at play will only continue.

@atiq-urrahman7559 10 месяцев назад

Best time would be around July-November 2024

@kateband8213 10 месяцев назад

There is no house price crash. Stop waiting for the perfect moment, it does not exist. There a 1001 arm chair experts out there.

@razorphone77 11 месяцев назад

How do we know that house prices have gone down? What does that even mean? Houses that did sell last year for X now sell for X-5%? The same house? Presumably we're looking at 'similar' houses, doesn't seem very exact to me. Or is it just an average? So what's the data made of when considering that average?

@edglue6138 10 месяцев назад

Are you a help or hindrance?

@gingermattb 10 месяцев назад

I suspect we can guess his wife's view on that...!

@chrisb7324 10 месяцев назад

Plot twist - there is no crash

@fredflintstone1428 10 месяцев назад

Wait another eighteen months to three years. You won't believe what's coming. Check out the 'excess deaths' figure. My guess is that the age group 45 to 80 is going to be hardest hit. Those are the people who have probably already paid of their mortgages, so there is going to be a glut of 'second purchase' (ie. not first-time buyer) properties coming to the market. The children of such parents will be keen to sell the property and will accept offers. That's my take on it.

@Leapops 10 месяцев назад

That was not my experience. My mum passed away about a year ago. The bugger is IHT forms and then waiting for probate which takes ages. After that sold her house (what you may call a second purchase property)pretty quickly ( in May) for close to asking. Renters desperate to leave that dysfunctional market bid the price up. My share of the proceeds will be going back into property - effectively the proceeds are like playing with house money. Some may be prepared to take offers but it is a very emotional time and you may be dealing with multiple siblings who will be stubborn over accepting offers. I know my siblings were not overly happy I accepted less than asking. There also a lot of (grand) children inheriting life changing sums of money which may lend support to property prices.

@roberttyler2861 10 месяцев назад

my local market is still fucked. cool.

@mjwmontgomery 10 месяцев назад

I think they are going up again

@JG-fg1ye 10 месяцев назад

We simply have too many migrants and are not building houses, prices will keep going up and multi generation mortgages will start

@muzzer8869 10 месяцев назад

Lol What crash

@dalskiBo 10 месяцев назад

Hasn't even begun yet

@AmeyBrunel 10 месяцев назад

Im still to feel the pain, end of May next year 😅

@tomstory8502 10 месяцев назад

Sin vs Seen 🤔

@jonolyons7828 10 месяцев назад

Wow

@oneeleven9832 11 месяцев назад

Inflation is not coming down it’s going up at a slower rate and an important distinction you need to make..love the videos 👍

@TheSecondSlice 11 месяцев назад

Inflation is going down, he did not say prices are going down (that'd be deflation).

@Littletime839 11 месяцев назад

It's going down

@dazzwsmith 11 месяцев назад

The rate of inflation is going down. Inflation, by definition does not go down.

@andrewtaylor6737 11 месяцев назад

Let's not forget either, inflation is a lot higher than government care to admit. If they released the true figure, they would have to pay Pensioners etc, at the real figure. In conclusion, inflation is here to stay for a long time yet!

@SDrtheone 11 месяцев назад

Not true

@edglue6138 10 месяцев назад

NOT A HOME OWNER???

@mneri 10 месяцев назад

He sold his home a year or so ago trying to time the market. He's been living on a rent since.

@evthompson2620 11 месяцев назад

Office for national stats last week stated house prices have risen 0.1%.

@naomispreadborough5421 10 месяцев назад

Wow, respect for this video. The first crashist like "moving home with Charlie" to realise and sort-of admit their mistake. By going out and viewing properties you will see that demand is still very much there and any markedly reduced properties with forced sellers are few and far between, resulting in bidding wars. If you get anything 5-10% off peak price, be very happy. Have a word with Charlie, he's still got people hanging on for -35% and it's pretty sad considering he promotes himself as some sort of saviour of the people

@CH-iz8bm 10 месяцев назад

@naomispreadborough5421Wow, that is some lie. I listen to many videos re finance and the housing market and I know for a fact that MHWC has never mentioned 35% or anywhere near that. Get your facts right before you start slandering. Bias much.

@MovingHomewithCharlie 10 месяцев назад

Naomi, you are a nincompoop! You've completely misunderstood what he said. Sorry, no time to educate you.

@MrCHrisfj 10 месяцев назад

I think you need to watch more of Charlie's videos, he admits that the drop may not get to 30/35% and he's a realist not a doom monger there's a difference. From your comment you seem to be in denial about the market and if I was to hazard a guess you're trying to sell at the moment and wondering why you're either not getting the interest that the estate agents told you would get or the offers. In my case I'm in a similar situation to Darren here but I spent my deposit on a cash purchase abroad as an insurance policy against not getting back onto the UK housing ladder.

@naomispreadborough5421 10 месяцев назад

@@MrCHrisfj Terrible guess, I am buying now

@MrCHrisfj 10 месяцев назад

@@naomispreadborough5421 So if you are buying why aren't you more positive about the reduced property prices? Surely that's to your advantage?

@ultanwoods 11 месяцев назад

Good video man

@manishg214 11 месяцев назад

Great video as always. Keep it up!

@jockster5525 11 месяцев назад

Its a minefield out there, be careful with what you wish for. Price's have dropped.. nothing to drastically yet . I feel that your praying on other people's despair and hardship and being smug about it... you'll fall on your own sword some day

@dougharris4853 11 месяцев назад

Honestly, commenting on the reality of the market is not exactly preying on the despair of others is it

@manni192 11 месяцев назад

How is he praying on people's hardship?

@bobjames6622 11 месяцев назад

From the sound of it I'm guessing you made a crap buying decision in the last few years and now you're regretting it and blaming others who are more prudent.

@Littletime839 11 месяцев назад

What about the despair and hardship of people who can't afford to buy property?