Jump to content
House Price Crash Forum

UK property market could cool rapidly in 2021, say forecasters


Recommended Posts

The property market could cool rapidly in 2021, according to forecasters, as the stamp duty holiday ends and unemployment rises.

Mortgage lender Halifax is expecting a fall in house prices of between 2% and 5% next year, after a 7.6% rise over the past 12 months fuelled partly by a post-lockdown surge in sales.

The Office for Budget Responsibility, the Treasury’s independent forecaster, is more pessimistic, predicting an 8% fall in prices in 2021.

 

https://www.theguardian.com/money/2020/dec/30/uk-property-market-2021-stamp-duty-price-rises

 

 

Link to post
Share on other sites

“The key long-term issue for the housing market remains the inequality between generations and across the income spectrum, and specifically the ability of the young and lower-paid to access good quality housing that meets their needs,” he said. “The impact on the economy of Covid will therefore only increase the need to prioritise improved housing availability and affordability.”

A prominent feature of the UK property market is its ability to blindside those who expect a price crash. This time last year, the forecasters were largely anticipating a subdued 2020, with the “Boris bounce” wearing thin.

 

lol - yeah

 

Link to post
Share on other sites

If a growing number of people aim to collect more than one property, that will create a shortage of supply and increase demand........would be interesting to find out how much of the property out there in not lived in full time.......sure numbers of in the main empty property furnished or not is increasing.

So why has it become so attractive to hold under used empty or partially empty property?

Sort that, the housing shortage will sort itself.;)

 

Link to post
Share on other sites
 

“The key long-term issue for the housing market remains the inequality between generations and across the income spectrum, and specifically the ability of the young and lower-paid to access good quality housing that meets their needs,” he said. “The impact on the economy of Covid will therefore only increase the need to prioritise improved housing availability and affordability.”

A prominent feature of the UK property market is its ability to blindside those who expect a price crash. This time last year, the forecasters were largely anticipating a subdued 2020, with the “Boris bounce” wearing thin.

 

lol - yeah

 

That's not a feature of the market, it's a feature of the govt.

Link to post
Share on other sites
 

A prominent feature of the UK property market is its ability to blindside those who expect a price crash.

I agree. It has been overpriced since 2002 IMO and genuinely feels supernatural in it's ability to defy gravity.

What we need is more "help". 🙄

Link to post
Share on other sites
 

But it's the same in most major cities in the world? House prices rapidly increasing everywhere. 

Absolutely agree. Our's has also crept into every town and village too. A 4 bed detached in my area requires either 2x City wages, or someone simply aged over 50 with previous equity to buy.....

Link to post
Share on other sites
 

The property market could cool rapidly in 2021, according to forecasters, as the stamp duty holiday ends and unemployment rises.

Mortgage lender Halifax is expecting a fall in house prices of between 2% and 5% next year, after a 7.6% rise over the past 12 months fuelled partly by a post-lockdown surge in sales.

The Office for Budget Responsibility, the Treasury’s independent forecaster, is more pessimistic, rich casino players login https://casinoslogin.com/rich-casino-mobile.html predicting an 8% fall in prices in 2021.

 

https://www.theguardian.com/money/2020/dec/30/uk-property-market-2021-stamp-duty-price-rises

 

 

Not good news for everyone who bought a house recently.

Link to post
Share on other sites
 

Absolutely agree. Our's has also crept into every town and village too. A 4 bed detached in my area requires either 2x City wages, or someone simply aged over 50 with previous equity to buy.....

I can only agree...when a new “young” couple move in up the road into our little welsh village, buying an ex council house 3 bed semi doer upper and all the oldies next door to us (retired school caretaker, farm fencing contractor and retired postman) comment how young they are to buy in the same row as them for £265k...turns out the new young couple are a 28yr old Doctor and 31yr old Barrister working in Chester....now slumming it with the riffraff!

Oh how times have changed. Where will the future retired posties and farm workers live in years to come?!

Link to post
Share on other sites
 

I can only agree...when a new “young” couple move in up the road into our little welsh village, buying an ex council house 3 bed semi doer upper and all the oldies next door to us (retired school caretaker, farm fencing contractor and retired postman) comment how young they are to buy in the same row as them for £265k...turns out the new young couple are a 28yr old Doctor and 31yr old Barrister working in Chester....now slumming it with the riffraff!

Oh how times have changed. Where will the future retired posties and farm workers live in years to come?!

Indeed...progress.  a house once for a postman is now for barrister.

 Self evidently living standards for some cohorts are crashing fast and hard.  All deliberate policy...

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.