The Property NomadsUK Housing Showing Signs Of Cracking
Rob discusses the concerning signs of the UK housing market starting to crack, referencing various news articles reporting a decline in house sales, with transactions down 21% year on year between April and July. Rob also mentions the correction in house prices and the potential for further interest rate increases by the Bank of England.
KEY TAKEAWAYS
The UK housing market is showing signs of cracking, with house sales falling and prices starting to correct.
Mainstream media outlets have been reporting on the decline in house sales and prices, indicating that the situation is not favourable.
Factors such as mortgage rate increases, house builders slowing down, and economic issues in China can have a ripple effect on the UK housing market.
The Bank of England is expected to raise interest rates, which may further impact the housing market, although the full effect may not be felt for 12 to 18 months.
BEST MOMENTS
"The UK housing market is now showing signs of starting to crack."
"House sales have fallen to the lowest level since the pandemic."
"House prices are starting to correct somewhat."
"China, one of the biggest economies in the world, is going to have a ripple effect."
"The UK housing market is showing signs of cracking and it's going to continue to do that moving forwards."
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ABOUT THE HOST
Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
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