UK house price predictions?

[Horse]

I know a few people who are switching from letting to AirBnB - one of them is even considering moving out for months at a time. Easy money if you have the right place in the right area.

Foal has been hunting for somewhere to live in Bristol. A couple of places were changing from AB&B to rented!

[Count Steer]

I know a few people who are switching from letting to AirBnB - one of them is even considering moving out for months at a time. Easy money if you have the right place in the right area.

Foal has been hunting for somewhere to live in Bristol. A couple of places were changing from AB&B to rented!

My SiL has gone back to renting out her flats after the LA put a 90 day pa limit on AirB&B usage. (In order to get stuff back into the rental market).

[Cousin Jack]

It is not quite as bad as it seems, the Section 21 notice that they are threatening to stop is the no fault one. If people dont pay rent, or damage the place, you can use a different section of the same act to get rid of them. The main problen without S21 is that you cannot get vacant posession for a sale, and that restricts the market and reduces the price.

[Greenman]

I'm not sure my prediction of 10% is strictly right but according to all the reputable news sources it's close enough.
I should start a fortune telling business.

https://www.ft.com/content/4ca0eac8-826 ... 1bbee41b30
House sales and prices fell across the UK in August as high mortgage rates hit property demand, leaving estate agents at their gloomiest about the market in 14 years, according to a leading survey published on Thursday.

I don't think the memo reached everyone though, I can still see property listings that are pure fantasy.

Rent is crackers though, I had a look at where we used to live and I should have kept it, the rent would have been at least double what I would have guesstimated.

Is there some sort of correlation with that many years and a certain reign of power? or am i just getting sidetracked?

[MyLittleStudPony]

Wasn't the consensus generally about a 5% drop in 2023 and the same in 2024? With inflation high (and interest on savings / bonds too), that's significant.

[Mussels]

I'm staying on a farm in Surrey at the moment and the owners want to move to France. They've accepted offers from three different people but each time the chain has collapsed lower down because people with flats or starter homes can't sell, first time buyers are waiting for something.
They have decided to take a financial hit and sell to an investor so as a result the prices will drop a little further.

[Flinn]

Predicting the housing market is always tricky, but now in 2024, the situation is quite different from a few years ago. In hindsight, I regret not buying a house back in 2022 when prices were more favorable and interest rates were lower. It would have been easier to upgrade then.