Personally, I'd love it if there was a 50% fall in property prices in the UK - perhaps then "homes" (not "investments") would become affordable for everyday hard-working folks.
If property prices crashed 50% you'd be lucky to get a mortgage until things settle. In the meantime cash rich investment companies / individuals would hoover up all the distressed sales and the would government pull out all stops to reignite the housing market. Prices would then recover and the last people that could take advantage is average Joe. This happened after the 2008 liquidity crisis to some extent. Retaining higher interest rates would be the best outcome because it'll reduce affordability for both private and investment purposes and bring down prices.
@@stumac869 I see... So what's the solution to the current predicament (where Joe Average can't afford to get on the property ladder or have any hope of owning their own home)? Perhaps let free-market forces do their thing? Perhaps the government should stop implementing these "schemes" that artificially prop up the UK house prices? BTW - I'm saying this as someone who owns a property in central London. It was being rented out at £2,000 a month in 2020, today it's £4,500 a month. I left the UK back in 2020, best move I ever made.
The reality is if property values crashed by 50% you wouldn’t get a mortgage & the properties would get snapped up by investment groups & hedge funds then values would recover meanwhile rental prices would continue increasing! Be careful what you wish for! 🙄🤦♂️
@@CornerstoneTax True. It's the main reason why we moved out of the UK. We just felt like you don't really get what you pay for there, and we were right!
Last year you said "house prices will rise 5-8% over 2023 as overseas investors rush in" - prices then fell as investors very predictably stayed away. You now seem to be pedalling almost the same "will rise by 8%" message again this year... I see you've left it until Feb to hedge your bets, but even with this will you be second time lucky? Who knows!
If prices house prices crashed, that wouldn't be in isolation without serious detrimental impact to other parts of the economy. And those regular jobs might no longer exist....
Doesn’t feel like a genuine analysis of the situation, but rather another chain- business in estate agent side that wanted to come up and save their own job by screaming at everyone: “Everything is fine, just come and buy a property, otherwise I won’t be able to pay my own mortgage and go on holiday!!!” That’s fair, and I respect it. But to anyone who wants a actual in-depth and impartial analysis/ opinions/ discussion- go on ether Moving home with Charlie/ Gary’s economic 😅
@@CornerstoneTaxNo you very obviously haven't been right every year! Last year you said 5-8% rise, the market actually fell. Just check your own videos (although I suspect they'll now be removed)
Straight to the point, thanks for the information and advice
Thank-you! James
Personally, I'd love it if there was a 50% fall in property prices in the UK - perhaps then "homes" (not "investments") would become affordable for everyday hard-working folks.
If property prices crashed 50% you'd be lucky to get a mortgage until things settle. In the meantime cash rich investment companies / individuals would hoover up all the distressed sales and the would government pull out all stops to reignite the housing market. Prices would then recover and the last people that could take advantage is average Joe. This happened after the 2008 liquidity crisis to some extent. Retaining higher interest rates would be the best outcome because it'll reduce affordability for both private and investment purposes and bring down prices.
@@stumac869 I see... So what's the solution to the current predicament (where Joe Average can't afford to get on the property ladder or have any hope of owning their own home)? Perhaps let free-market forces do their thing? Perhaps the government should stop implementing these "schemes" that artificially prop up the UK house prices? BTW - I'm saying this as someone who owns a property in central London. It was being rented out at £2,000 a month in 2020, today it's £4,500 a month. I left the UK back in 2020, best move I ever made.
The reality is if property values crashed by 50% you wouldn’t get a mortgage & the properties would get snapped up by investment groups & hedge funds then values would recover meanwhile rental prices would continue increasing! Be careful what you wish for! 🙄🤦♂️
Sadly, not something that would ever convincedly happen!
@@CornerstoneTax True. It's the main reason why we moved out of the UK. We just felt like you don't really get what you pay for there, and we were right!
Last year you said "house prices will rise 5-8% over 2023 as overseas investors rush in" - prices then fell as investors very predictably stayed away. You now seem to be pedalling almost the same "will rise by 8%" message again this year... I see you've left it until Feb to hedge your bets, but even with this will you be second time lucky? Who knows!
nice video
I hope there will not be a property crash. not good if that happens.
It would be good for first-time home buyers who work regular jobs and who are not earning 6 figure salaries.
@@MnemonicCarrier true
If prices house prices crashed, that wouldn't be in isolation without serious detrimental impact to other parts of the economy. And those regular jobs might no longer exist....
Agree!
Doesn’t feel like a genuine analysis of the situation, but rather another chain- business in estate agent side that wanted to come up and save their own job by screaming at everyone:
“Everything is fine, just come and buy a property, otherwise I won’t be able to pay my own mortgage and go on holiday!!!”
That’s fair, and I respect it.
But to anyone who wants a actual in-depth and impartial analysis/ opinions/ discussion- go on ether Moving home with Charlie/ Gary’s economic 😅
Hi, we've been doing these videos for the last 3 years, and we've been correct each time! :)
@@CornerstoneTaxNo you very obviously haven't been right every year! Last year you said 5-8% rise, the market actually fell. Just check your own videos (although I suspect they'll now be removed)
@@purplebadgers8375 Hi, we haven't removed any videos!
They are still there
James