Where I am in pensioner land they want to sell at max to have max profits for care, pressure from children (inheritance considerations. Size), moving to a flat (want reserves for service charges), cost of living. Added to that no London buyers (london's pensioners have nearly all departed) . It is a right pooh storm !
Noticed a property in Oxfordshire on the market last year for £9.5million... looking on rightmove last week, the property is under offer, but asking price is down to.... £4.5million! Still a lot of money, but arguably a price drop of over 50%
My area of MCR is seeing houses up to 450,000 selling in a short space of time, but anything over that is not selling. The problem with housing coming on to the market is that most are overpriced. They are generally in disrepair due to older people having owned them and not kept them up. The families are then being told they can get 250,000 plus on a house that will cost at least 20,000 to make livable.
Here is a classic, smallish 3 bed cottage in Devon with a nice garden, inside condition pretty average, last sold in 2020 for 270k and now listed at 495k (base rates 0.1% in 2020 vs 5.25% now) is this peak crazy?
@peterrogers3085 problem is , ate they really selling? Sellers can ask for a million but as far as I can see, Devon properties are not selling, hundreds of them
I'm noticing increases from 2020/2021 sale prices where I live as well. Nobody's buying them though. The estate agents are overvaluing everything still. Clearly not suffering enough yet.
I'm from Devon and as a young person don't stand a chance its absolutely ridiculous. The amount of second homes and airbnbs/buy to lets is out of control. Just in the village i rent in the amount of empty houses just sat there is utterly criminal. No mention of this by a political party yet again
Air bnb all part of the plan. Renters are chucked out for these causing a rental catastrophe leaving people nowhere to go but the new social landlord controlled tower blocks.
@@EMEL-hr4utsocial housing isn't a threat, we desperately need more of it to keep the rest of the housing market in check! Why do you think so many occupied neighbourhoods are so drab & dilapidated now? When social housing isn't an option, there's zero incentive anywhere for private landlords or tenants to improve or maintain a property beyond the absolute bare minimum.
Im a first time buyer starting to do viewings. Buoyed by this and your commentary. For context, im 29, and was the first year of university students to pay £9000 fees. If im able to grab a bargain, it might feel like something in the economy has gone in my favour!
News to back this up, house locally fell through last week on day of completion on a new build as developers lied on paperwork. Ipswich garden city development on hold due to lack of sale, no new builds going up as developers can't afford to without selling off plan which isn't happening. Gold up to all time high
Hi Charlie, Fu**ing Time-wasting B***ard here, I just wanted to thank you for sharing such valuable information about the buying/selling process and moving in general. Thanks to your insights, I was able to secure an excellent deal on a small house in Oxfordshire in Oct 2023. I knew I could get a good deal as, at the time, not only did the local market *feel* quiet but the estate agent said I could view the property the morning I enquired! Error or not I finally have a home.
Telford lower end of house market is going fast ,under 200k is mass veiwings and sealed bids!!!!i know personally 4 purchases that had to go OVER asking price to secure. On rightmove 65 % of property is sold stc under 200k !!! That is a strong market !!i think to much emphasis is always on south England, because telfords market is bubbling!!!
Population increase, lack of supply of new houses, and a restrictive planning system means that prices will keep rising in the future..The main thing that holds prices at the moment from rising at faster rates is availability of cheap finance. We went from 0.1 to 5.25 in interest rates , and nominal prices have remained steady. And all this despite the government increasingly turning against landlords and foreign property buyers. Another factor that many people ignore in their analysis, is the strong desire in the uk to own a home. For many people , owning your house is better than renting even if in the short term may be more expensive.
Some of this is true some of this is not. Listed our property and got asking price in 2 weeks , 330k 3 bed. Progressing quickly and likely to complete in about 8 weeks. 45% up in the last 8 years. Listed another 2 bed property, went for over 15k vs asking price and this is set to complete in 8 weeks. 35% up since 2020. You talk down the market a lot but it’s very regionally dependent. Managed to get 5% discount on the next house up the chain but still lots of buyers around. Midlands based.
Your helpful anecdote proves that sensibly priced properties can and do sell quickly. I expect you have a very good agent too. However that doesn't mean it's what is typically happening now, but congratulations.
Fully expect the government to take money on loan from BoE and to step into the market as a social landlord. Keep driving the prices up and saddling the people with debt for their 'charitable' purposes. Meanwhile, price vs. avg wages continues to widen.
London is full of empty new build sky rises. I think they have already printed enough money in that department. No housing shortage and government won't buy white elephants at top of market except to house renters which they already do through housing associations.
The ONS figures came out this week and not included in this analysis of key facts - this showed increase in annual prices (understood this is for entire UK and includes aggregate of rises & falls). I thought this may be a useful fact to add as you revisited your expected slide of 35%
The mortgage rate is above 5% paid to the bank and the house price at most is increasing by 1% ( excluding repairs, commissions, stamp duty.. ). That's happened for last 2 plus years and continuing, but people are convinced house is the best asset class - compare equity indexes giving returns above 12% ) . All I would say is do not put all money in one asset class (House, Stock market or any other asset class).
So ,if 39,000 people moved to my city, and the previous vacancy rate was less than 1 % . " You say rents will fall " For the renters protection . . . As a small landlord owning one rental property. I need protection from VAPERS, ALCOHOL. CIGARETTES, HARD DRUGS . AND INTIMIDATION and lies from tenants . ..
Questions I need answers to first: 1. What was the population of the city before (ie how many is 1%?) 2. How many people left the city? 3. How many births and deaths were there? There will of course be some cities where price pressures remain higher than others.
all prices are artificial. house builders costs will adjust downwards until it does become viable. mainly land prices will drop, and materials for building homes. the profit margins will drop for everyone in the industry. so the price gauging by everyone will reduce. and their stock prices will reduce. but home building won't stop.
Nobody ever mentions inherited houses. I'm 60 & know plenty of people with inherited property, these are (generally) not reaching the market. They are rented out and the asset retained, l can't see this changing whilst rents remain high and l don't see them falling.
I live in Pudsey and the Lloyds bank building as been earmarked for housing for years. My friends worked for Lloyds moved from their offices a few years ago.
The supermarkets have known, and work on the assumption, that the UK Population is at least +10m above official figures...... Waste Management, sewer management, know from the waste produced there are way more people than officially noted.
Not a buyers market here unfortunately. Asking prices are so far removed from reality as are expectations from sellers and rejection of offers. Agree with Craig Wood re only places coming on a s**tholes. Very dried up market for stock coming to market. I'm out viewing! I've viewed so many though its gone the other way - I think some agents look at me as a F time wasting B, and I'm not!
Please remind me. Is Labour's election pledge to build 300k houses a year, or an EXTRA 300k houses a year? If its just 300k a year and we're at 231K under normal house builder's supply rates, upping by 60k isn't such a big a deal as I thought it was.
Hi Charlie, there are reductions across the board on most 2 bed and 3 bed semi-detached houses in the North East (Durham/Teesside areas). I have viewed 7 of them, all of them are elderly couples who want to downsize/sell and move into a caravan, or go travelling.
Amir: there have always been a plethora of properties for sale in the North East, at very reasonable prices. The main bar to them not selling is that of employment - 85% are on benefits and therefore cannot afford to save for even a 5% deposit. The market for investors is bouyant though - many properties under the £50 mark
a lot of retail is due conversion to housing since so much of it is moving to the internet. The second order problem with that is why are people going to go to the high street anymore if this happens at a large scale? and why is a high street even needed?
High street is needed if people don't want to wait or if they want to put hands and eyes on something before buying Trouble is so many other factors pushing against it. Most housholds have less disposable income now so that's less custom for high st. High rents mean they can't compete with online on price & it's mainly estate agents, betting shops, and obvious laundering fronts clogging up every high st in the country. Commercial & residential real estate is like an enormous black hole in the economy, sucking up enormous amounts of money which could be spent on productive things instead of pumping up market speculation to ever-dizzying heights. Similarly, speculative capital has pushed online retail to operate at a loss to gain market share, undercut competition, offer ludicrous logistics like unlimited free returns by paid-for delivery. Fundamentally unsustainable, but it'll kill brick & mortar before it does. Also the vast majority of people still prefer buying eg. Groceries in person, where you can judge the quality of what you're buying before you commit to it. These housing developments in old commercial estates will still need grocers, hairdressers, doctors, pharmacies, bakers, cafes . etc
@@InnuendoXP we are already seeing high streets from old towns replaced by a few scattered businesses and service buildings across a larger area. Many empty spaces in central locations getting eventually replaced by high value residential, or staying empty for years. But eventually those places don't stay so high value as they become streets like any other street in the town.
@@paulmessenger9836 I think it’s more that the price the new builds are going for puts them in competition with older housing stock with character/garden/location, etc. rather than offering the first time buyers a foot on the ladder. We have a lack of housing, particularly affordable housing.
Where i am house prices aren't sliding instead the supply is very scarce. No new listings in 3 months. Looking at the current market if interest rates fall prices look likely to go higher.
As a builder, build prices will not drop due to lack of GOOD quality labour , this has been a ticking time bomb and its about to explode! I think prices will actually go up, simple supply and demand (labour related)
Prices can't go up if they're not selling homes. They have to sell them, even at a loss if they must. People can't pay higher prices as lenders won't lend if they're overvalued.
Picking up on the Lloyds bank conversion strategy. Using permitted development rules to convert banks and other redundant high street commercial property is heavily promoted by property development channels. It’s about time Lloyds and other banks took responsibility to turn their unwanted buildings into social housing. However, due to repetitional risk I don’t think I’m the only one to assume these will not be cheap flip and scarper specification conversions(a good thing). Consequently, unless heavily subsidised by local authorities, the typical two bedroom micro flat, will never be truly affordable by the people who need them most. Similarly ‘affordable’ units for sale will be nothing of the sort. Might suit aspiring BTL landlords though!
Hi Charlie, Something strange happening in my area. Houses priced between 300-500,000 are selling but sat empty. There has also been a large influx of estate agents arrive also over the last 12 months.
@@amirmxd Putting a big deposit, or let alone buying cash is probably the d*est financial decision. I only talk from the point of view if you try to make the most out of your money...I'm not talking about the average Joe who buys cash and brags about it...I have cash but will never buy my house like that...
Greetings from Ireland, housing market is clearly in stagflation here, only a matter of time before the rest of the economy here follows. It feels like there is no other path forward. Something has to break but what, buyers can't afford what sellers want or need, plus we have one thousand Urkrainans, with only 5 million population. Every hotel room is taken with refugees. We were better to have had a cycle recession in 2020 and move on, to this slow grind down into a 1980s depression. Deliberate or otherwise, the goverment has locked down, induced demand in a time of shortages, and probably blindly hoped that an open door immigration policy would lift the economy by creating more demand and construction. Property prices were falling here in late 2019, you could smell the recession coming. The ERSI (government think tank) predicted in 2020 house prices would fall 10-15% (that was code for much worse to come) which would have played out without the intervention, of rediculously generous pandemic payments, business loans (they are now warehoused) which is code for never to be paid back.
@@sarahann530 one third of all available rooms are occupied with refugees, 545 is approx one third of the 1637 hotels, considering they don't fully occupy every hotel, at least half of all hotel are occupied
Rightmove have a lot Sold House Prices in their database, the should produce a sale report/dataset. I would agree on the social housing, that is where we need more houses. On population keep in mind it is not just about new people but also about existing people, kids (20 somes) leaving home there must be 500,000+ kids leaving home each year so there needs to be 100,000 houses just for this group.
Here’s five facts: Charlie doesn’t understand the economics of the housing market Prices are going up (slowly) Prices are not going down at macro level Prices are cheap vs long term average Prices are not going to go down 35%. Obviously
@@MovingHomewithCharlie my lexicon is superb! I think your type seems to think that he can hide behind sophistry - thet ruth is there is no distinction between the two, it's semantics. you made a prediction and now you are constantly trying to back peddle.
you do make a prediction every time you set your expectations of the "future" It's the same thing. You have backpeddaled on numerous occasion because the data just doesn't support any real house price reductions. I care because there are a lot of gullable people who will buy your "end of the world" bollocks.
![Lp. Сердце Вселенной #30 ДВА В ОДНОМ [Один человек]• Майнкрафт](http://i.ytimg.com/vi/nrXy15orKhY/mqdefault.jpg)
It's the over priced sellers who are prohibiting other moves.
Where I am in pensioner land they want to sell at max to have max profits for care, pressure from children (inheritance considerations. Size), moving to a flat (want reserves for service charges), cost of living. Added to that no London buyers (london's pensioners have nearly all departed) . It is a right pooh storm !
Noticed a property in Oxfordshire on the market last year for £9.5million... looking on rightmove last week, the property is under offer, but asking price is down to.... £4.5million!
Still a lot of money, but arguably a price drop of over 50%
Anthea Turner ? She would never sell. She knows people...obviously 😅
My area of MCR is seeing houses up to 450,000 selling in a short space of time, but anything over that is not selling. The problem with housing coming on to the market is that most are overpriced. They are generally in disrepair due to older people having owned them and not kept them up. The families are then being told they can get 250,000 plus on a house that will cost at least 20,000 to make livable.
Here is a classic, smallish 3 bed cottage in Devon with a nice garden, inside condition pretty average, last sold in 2020 for 270k and now listed at 495k (base rates 0.1% in 2020 vs 5.25% now) is this peak crazy?
A lot of that happening in Devon
I've noticed that too in Torbay.
@peterrogers3085 problem is , ate they really selling? Sellers can ask for a million but as far as I can see, Devon properties are not selling, hundreds of them
I'm noticing increases from 2020/2021 sale prices where I live as well. Nobody's buying them though. The estate agents are overvaluing everything still. Clearly not suffering enough yet.
Even a math idiot can see that 5.25% on £495k is bonkers! The question is who will buy it?
I'm from Devon and as a young person don't stand a chance its absolutely ridiculous. The amount of second homes and airbnbs/buy to lets is out of control. Just in the village i rent in the amount of empty houses just sat there is utterly criminal. No mention of this by a political party yet again
Air bnb all part of the plan. Renters are chucked out for these causing a rental catastrophe leaving people nowhere to go but the new social landlord controlled tower blocks.
They most likely will come for them in time.
@@EMEL-hr4utsocial housing isn't a threat, we desperately need more of it to keep the rest of the housing market in check! Why do you think so many occupied neighbourhoods are so drab & dilapidated now? When social housing isn't an option, there's zero incentive anywhere for private landlords or tenants to improve or maintain a property beyond the absolute bare minimum.
@@InnuendoXP you are so naive or just a shill.
Good suggestion to view other houses than the ideal houses. Sometimes it can take 10 or more viewings to work out the true values and options.
Im a first time buyer starting to do viewings. Buoyed by this and your commentary. For context, im 29, and was the first year of university students to pay £9000 fees. If im able to grab a bargain, it might feel like something in the economy has gone in my favour!
Get yourself to Hastings. Or Hartlepool. Newport in Wales. Take your pick 😅
News to back this up, house locally fell through last week on day of completion on a new build as developers lied on paperwork.
Ipswich garden city development on hold due to lack of sale, no new builds going up as developers can't afford to without selling off plan which isn't happening.
Gold up to all time high
How much gold do you own
@@sarahann530 none, still up in price though
Developers lied. Must have been a big one. Sink hole is a feature ?
Love the channel, great info. Brilliantly delivered.
Hi Charlie, Fu**ing Time-wasting B***ard here, I just wanted to thank you for sharing such valuable information about the buying/selling process and moving in general. Thanks to your insights, I was able to secure an excellent deal on a small house in Oxfordshire in Oct 2023. I knew I could get a good deal as, at the time, not only did the local market *feel* quiet but the estate agent said I could view the property the morning I enquired! Error or not I finally have a home.
Congratulations!! So happy if I have helped. 👍🏻
Thanks Charlie for your overview
Telford lower end of house market is going fast ,under 200k is mass veiwings and sealed bids!!!!i know personally 4 purchases that had to go OVER asking price to secure. On rightmove 65 % of property is sold stc under 200k !!! That is a strong market !!i think to much emphasis is always on south England, because telfords market is bubbling!!!
Population increase, lack of supply of new houses, and a restrictive planning system means that prices will keep rising in the future..The main thing that holds prices at the moment from rising at faster rates is availability of cheap finance. We went from 0.1 to 5.25 in interest rates , and nominal prices have remained steady. And all this despite the government increasingly turning against landlords and foreign property buyers. Another factor that many people ignore in their analysis, is the strong desire in the uk to own a home. For many people , owning your house is better than renting even if in the short term may be more expensive.
Some of this is true some of this is not.
Listed our property and got asking price in 2 weeks , 330k 3 bed. Progressing quickly and likely to complete in about 8 weeks. 45% up in the last 8 years.
Listed another 2 bed property, went for over 15k vs asking price and this is set to complete in 8 weeks. 35% up since 2020.
You talk down the market a lot but it’s very regionally dependent.
Managed to get 5% discount on the next house up the chain but still lots of buyers around.
Midlands based.
Your helpful anecdote proves that sensibly priced properties can and do sell quickly. I expect you have a very good agent too. However that doesn't mean it's what is typically happening now, but congratulations.
Fully expect the government to take money on loan from BoE and to step into the market as a social landlord. Keep driving the prices up and saddling the people with debt for their 'charitable' purposes. Meanwhile, price vs. avg wages continues to widen.
London is full of empty new build sky rises. I think they have already printed enough money in that department. No housing shortage and government won't buy white elephants at top of market except to house renters which they already do through housing associations.
The ONS figures came out this week and not included in this analysis of key facts - this showed increase in annual prices (understood this is for entire UK and includes aggregate of rises & falls).
I thought this may be a useful fact to add as you revisited your expected slide of 35%
Lloyds are converting their disused banks into housing. Will this include safe houses? 🤔
Thanks dad
Eric Daniels...sir eric Daniels. Remember the 2008 names. Fred the Shred. Scapegoat patsy actors.
The mortgage rate is above 5% paid to the bank and the house price at most is increasing by 1% ( excluding repairs, commissions, stamp duty.. ). That's happened for last 2 plus years and continuing, but people are convinced house is the best asset class - compare equity indexes giving returns above 12% ) . All I would say is do not put all money in one asset class (House, Stock market or any other asset class).
So ,if 39,000 people moved to my city, and the previous vacancy rate was less than 1 % .
" You say rents will fall "
For the renters protection . . .
As a small landlord owning one rental property. I need protection from VAPERS, ALCOHOL. CIGARETTES, HARD DRUGS . AND
INTIMIDATION and lies from tenants . ..
Questions I need answers to first:
1. What was the population of the city before (ie how many is 1%?)
2. How many people left the city?
3. How many births and deaths were there?
There will of course be some cities where price pressures remain higher than others.
Charlie. If you are right about price slides, then new houses aren't viable to build.
Yup. Which is why they’re now building to rent.
all prices are artificial. house builders costs will adjust downwards until it does become viable.
mainly land prices will drop, and materials for building homes. the profit margins will drop for everyone in the industry.
so the price gauging by everyone will reduce. and their stock prices will reduce.
but home building won't stop.
Just like the early 1990's. Actual transaction prices were less than the build cost including the land.
Hard days are coming, meltup in global stocks this year before a horrible crash that bring UK property prices down yhe loophole
great five facts friday - thank you
Nobody ever mentions inherited houses. I'm 60 & know plenty of people with inherited property, these are (generally) not reaching the market. They are rented out and the asset retained, l can't see this changing whilst rents remain high and l don't see them falling.
People need to live somewhere and rental is one side of the coin. No quick money to be had so inheritors don't sell.
I live in Pudsey and the Lloyds bank building as been earmarked for housing for years. My friends worked for Lloyds moved from their offices a few years ago.
The supermarkets have known, and work on the assumption, that the UK Population is at least +10m above official figures...... Waste Management, sewer management, know from the waste produced there are way more people than officially noted.
In Milton keynes, i have seen cuts but not much
Not a buyers market here unfortunately. Asking prices are so far removed from reality as are expectations from sellers and rejection of offers. Agree with Craig Wood re only places coming on a s**tholes. Very dried up market for stock coming to market. I'm out viewing! I've viewed so many though its gone the other way - I think some agents look at me as a F time wasting B, and I'm not!
Please remind me. Is Labour's election pledge to build 300k houses a year, or an EXTRA 300k houses a year? If its just 300k a year and we're at 231K under normal house builder's supply rates, upping by 60k isn't such a big a deal as I thought it was.
300k a year total.
Hi Charlie, there are reductions across the board on most 2 bed and 3 bed semi-detached houses in the North East (Durham/Teesside areas).
I have viewed 7 of them, all of them are elderly couples who want to downsize/sell and move into a caravan, or go travelling.
@@amirmxd including Darlington? Thinking on move over there
Amir: there have always been a plethora of properties for sale in the North East, at very reasonable prices. The main bar to them not selling is that of employment - 85% are on benefits and therefore cannot afford to save for even a 5% deposit. The market for investors is bouyant though - many properties under the £50 mark
@@delgas666Yeah Darlington has some decent properties that are 3-4 miles outside of the town centre. Roughly priced from £130-160k.
@@joline2730Yeah agreed but there are some really nice pockets that aren’t full of new-build box estates near Stockton, Hartlepool and Darlington.
@@amirmxd out of curiosity would you advice new build or retro? Many thanks!
a lot of retail is due conversion to housing since so much of it is moving to the internet. The second order problem with that is why are people going to go to the high street anymore if this happens at a large scale? and why is a high street even needed?
High street is needed if people don't want to wait or if they want to put hands and eyes on something before buying
Trouble is so many other factors pushing against it. Most housholds have less disposable income now so that's less custom for high st. High rents mean they can't compete with online on price & it's mainly estate agents, betting shops, and obvious laundering fronts clogging up every high st in the country.
Commercial & residential real estate is like an enormous black hole in the economy, sucking up enormous amounts of money which could be spent on productive things instead of pumping up market speculation to ever-dizzying heights.
Similarly, speculative capital has pushed online retail to operate at a loss to gain market share, undercut competition, offer ludicrous logistics like unlimited free returns by paid-for delivery. Fundamentally unsustainable, but it'll kill brick & mortar before it does.
Also the vast majority of people still prefer buying eg. Groceries in person, where you can judge the quality of what you're buying before you commit to it. These housing developments in old commercial estates will still need grocers, hairdressers, doctors, pharmacies, bakers, cafes . etc
@@InnuendoXP we are already seeing high streets from old towns replaced by a few scattered businesses and service buildings across a larger area. Many empty spaces in central locations getting eventually replaced by high value residential, or staying empty for years. But eventually those places don't stay so high value as they become streets like any other street in the town.
Houses being built are far to expensive
For your personal circumstances
@@paulmessenger9836 I think it’s more that the price the new builds are going for puts them in competition with older housing stock with character/garden/location, etc. rather than offering the first time buyers a foot on the ladder. We have a lack of housing, particularly affordable housing.
For most people's personal circumstances as far as I observe. @@paulmessenger9836
@@paulmessenger9836no for the quality of the build. 😂
Where i am house prices aren't sliding instead the supply is very scarce. No new listings in 3 months.
Looking at the current market if interest rates fall prices look likely to go higher.
Where is that?
What will happen to all the people working for Lloyds in these places which are going to be converted to houses?
AI is replacing all replaceable jobs. Get a trade (real job) quick.
Disagree! It was never a buyers market. I have put offers on 3 houses above the asking price but none of them got accepted. Dont be fool.
As a builder, build prices will not drop due to lack of GOOD quality labour , this has been a ticking time bomb and its about to explode! I think prices will actually go up, simple supply and demand (labour related)
Prices can't go up if they're not selling homes. They have to sell them, even at a loss if they must. People can't pay higher prices as lenders won't lend if they're overvalued.
It is a canker the gross over pay expected for the basic house work trades. Hurting sola installs and all sorts.
Picking up on the Lloyds bank conversion strategy. Using permitted development rules to convert banks and other redundant high street commercial property is heavily promoted by property development channels.
It’s about time Lloyds and other banks took responsibility to turn their unwanted buildings into social housing. However, due to repetitional risk I don’t think I’m the only one to assume these will not be cheap flip and scarper specification conversions(a good thing).
Consequently, unless heavily subsidised by local authorities, the typical two bedroom micro flat, will never be truly affordable by the people who need them most. Similarly ‘affordable’ units for sale will be nothing of the sort. Might suit aspiring BTL landlords though!
Id rent a place in an old bank, nice knowing i have the worlds toughest front door...
Hi Charlie, Something strange happening in my area. Houses priced between 300-500,000 are selling but sat empty. There has also been a large influx of estate agents arrive also over the last 12 months.
That is strange. What’s your area?
@@MovingHomewithCharlie Sorry for the late reply. my area is YO8
What’s the point of building all these houses when they are overpriced and unaffordable ??
Plus schemes that put people at a further disadvantage. Which need to be scrapped.
sir which area did you mention 35.40 min down the video ?
Thank you.
Whoever bought in the last 3 years, oh my, oh my...
Even those who put a big deposit down?
@@amirmxdI did but sold
@@amirmxd Putting a big deposit, or let alone buying cash is probably the d*est financial decision. I only talk from the point of view if you try to make the most out of your money...I'm not talking about the average Joe who buys cash and brags about it...I have cash but will never buy my house like that...
@@SycAamore Why though? Buying it cash would mean you own a physical asset outright?
Still not got your 25% discount I take it? 😅
Greetings from Ireland, housing market is clearly in stagflation here, only a matter of time before the rest of the economy here follows. It feels like there is no other path forward. Something has to break but what, buyers can't afford what sellers want or need, plus we have one thousand Urkrainans, with only 5 million population. Every hotel room is taken with refugees. We were better to have had a cycle recession in 2020 and move on, to this slow grind down into a 1980s depression. Deliberate or otherwise, the goverment has locked down, induced demand in a time of shortages, and probably blindly hoped that an open door immigration policy would lift the economy by creating more demand and construction. Property prices were falling here in late 2019, you could smell the recession coming. The ERSI (government think tank) predicted in 2020 house prices would fall 10-15% (that was code for much worse to come) which would have played out without the intervention, of rediculously generous pandemic payments, business loans (they are now warehoused) which is code for never to be paid back.
I can find available hotel rooms all over Ireland so the Ukranians are not in all of them . Where were you unable to find hotel rooms?
@@sarahann530 one third of all available rooms are occupied with refugees, 545 is approx one third of the 1637 hotels, considering they don't fully occupy every hotel, at least half of all hotel are occupied
Ireland is being taken down. They flooded Ireland with african and Muslims to boost the economy. Stroll on....
Rightmove have a lot Sold House Prices in their database, the should produce a sale report/dataset.
I would agree on the social housing, that is where we need more houses. On population keep in mind it is not just about new people but also about existing people, kids (20 somes) leaving home there must be 500,000+ kids leaving home each year so there needs to be 100,000 houses just for this group.
List prices in Rightmove are not the final transaction prices though.
People leaving home each year is offset by people leaving this earth as well!
Does the Molier data for construction starts show the same trend in England and Wales? (Chart just shows London.) Great channel btw.
This lad has been trying to convince people house prices are going down for years....strange!
just trying to get people to notice they're being lied to about house prices, but hey if you want to keep believing in the always up story, good luck!
I see a big house correction coming, and its not going to be good for anyone.
Net increase in housing? How many houses were demolished?
Good question. In social housing more were demolished than built.
Here’s five facts:
Charlie doesn’t understand the economics of the housing market
Prices are going up (slowly)
Prices are not going down at macro level
Prices are cheap vs long term average
Prices are not going to go down 35%. Obviously
Until you back those up with data, they’re not facts, they’re opinions, which means you don’t understand English! 😘
Starting to see a lot of places go fixed price very quickly in Scotland
The housing bill sounds measured and sensible. Shows early promise.
you talk some crap ... never a prediction but an expectation. When there is no material difference - just a semantic distinction.
Don’t blame your poor grasp of vocabulary on me! 😉
@@MovingHomewithCharlie my lexicon is superb! I think your type seems to think that he can hide behind sophistry - thet ruth is there is no distinction between the two, it's semantics. you made a prediction and now you are constantly trying to back peddle.
@@garethwilliams4467 I didn’t make a prediction, my expectations remain the same and I haven’t back peddled once. Bewildered why you care so much.
you do make a prediction every time you set your expectations of the "future" It's the same thing. You have backpeddaled on numerous occasion because the data just doesn't support any real house price reductions. I care because there are a lot of gullable people who will buy your "end of the world" bollocks.
To think that there are people out there who wait for that 35% price drop/‘slide’.. I suppose if you can’t afford anything, you’ll wait. Good luck!
Just makes for wonder, how long will it take for the market to correct itself from pandemic mayhem