Has The UK Property Market, Finally Hit The Peak?

[@MattBrighton]

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[@Ramiperera]

Can you do a video on how house price crash will vary depending on if they are flats/houses , price range, area etc ? I don’t think the crash will be same everywhere

[@rdtheskald]

The reality here is that an average wage worker is more like 17.5 times yearly wage for a house. It's completely disgusting.

[@MorningtonCrescent]

It depends on local economies relative to local markets, though the waged are of course more challenged.

[@djjuno106]

I noticed during the lockdowns people on furlow or where working at home were spending money like it was going out of fashion. A guy I know was one of the bosses at drapers tools,,when he got furlowed he spent thousands on a massive wall fish tank..he then spent thousands on fish for it plus a custom filter heating system ..it looked amazing but I told him I’d wait and not spend because after the lockdowns company’s would fire staff they see as waste. He laughed and said no way I’m too important and my wage is too high . After 2nd lockdown they fired a lot of staff and high management..just as his fish tank was completed they called him and said he was fired because they were stripping back costs. I saw this constantly during covid

[@Tdr-jv2nc]

Isn’t it crazy how messed up the market is for young people like me and my wife

[@truth.speaker]

I just bought a flat for 41k. It's grim up North. But cheap

[@RetroReselling]

Here here!

[@Ramiperera]

@@truth.speaker with a roof?

[@Tdr-jv2nc]

@@truth.speaker 😂👍🏻

[@Tdr-jv2nc]

@@truth.speaker we looked at a flat yesterday here near Brighton, £295k!!!! Just for a two bed flat!

[@stevefaust3532]

"House prices in the East of England - 5.5x salary" Banks "Best we can offer is 4x your salary"

[@MorningtonCrescent]

Relocate. Sentimental attachment to a town or region garners little sympathy, when there are alternative choices to be made. Either that or wait for correction.

[@n9nes9]

@@MorningtonCrescent I think there are other practical factors to consider. If you're moving away from parents and family, then you're going to have to consider the possibility that you're reliant on childcare. This isn't a small expense and in many cases is like having a second, concurrent mortgage. You then end up making the choice about switching down to a single-income household with a stay-at-home parent, which affects your homebuying potential or you don't have kids. I'm not suggesting people are entitled to a home in Kensington, but I don't think telling people to simply move away from their support networks just to buy a home is a silver bullet solution, either.

[@MorningtonCrescent]

@@n9nes9 I'm not telling people to move away from support networks; I am however, highlighting the fact that life choices have consequences. I accept the consequences of my choices and actions, yet seemingly others prefer to indulge themselves in their own preferences and do not see the alternatives available to them.

[@n9nes9]

@@MorningtonCrescent Those choices may or may not be viable as we're all different, with different goals and personal circumstances. But to reference the OP, the "East of England" is a large geographical area. Supposing, as you suggested they relocate, it's likely that given how large that area is your support network is no longer available to you should you choose to move out of it. I take your point about personal responsibility and I think most people realise that there are options available to them. I just think it's fair to say that if you're working hard at an honest job and struggling to buy a home that we shouldn't write it off as "a you problem" and perhaps acknowledge that there are wider issues in play. We need people to have children for a myriad of reasons. More importantly we need hard-working and responsible parents to have children, so I believe the 'choice' to have kids shouldn't be predicated on whether buying a house near to support networks is affordable or not. Unfortunately, right now I believe that it is. There are of course other things we can do to address issues like the costs of childcare, but I'm just illustrating that it's not a simple issue.

[@MorningtonCrescent]

@@n9nes9 Again, I did not reduce it to a simple issue. Actions have consequences, both within a household unit and as an element of the wider economy, labour force and housing markets - I am not claiming it is (exclusively) a "you" problem. Adapting to changing environments and dynamics is key. Remaining static and claiming no other viable options is a choice also, yet a choice that many do not reconcile with accountability. You referenced the choice of a family and used the term 'should'; this is where the classic 'is-ought' dichotomy is ignored. Making correct planning decisions and mitigating future risks IS a simple issue.

[@callumreed398]

The best videos on this topic on KZbin. I’m in the process of buying a my first house at the moment and these videos really hit home hard ….

[@Bradleyschaeffer376]

I began accumulating wealth when I started following up my investment properly, The value of expert mentorship cannot be overstated. Without proper mentoring, people tend to make mistakes and loose money. This is why I prefer to invest with Juliann Hart because her methods are unique and extremely profitable-

[@MichealTanner141]

Overtime I have come across people earning consistent returns with the assistance of a professional manager but how do I find one? This is something that piques my interest-

[@craigroberts3732]

Price to earning ratios don’t matter in U.K. as many buyers are not earners in this country (especially in places like London).

[@kevinu.k.7042]

Another very good video. Thanks. Public sector wages historically increase at a fraction of those of the private sector. The gap for jobs with comparable training and qualifications is now very wide. So when you talk about private sector wages increasing by 7.2% in the months up to November 2022 the strikers claims for 8% seem exceptionally reasonable. Thanks for all of your work explicating issues like this.

[@puccarts]

Exactly why there's also an NHS crisis.. Junior Doctors haven't had a pay rise since 2008. Why do 6 years or stressful medical school only to get a paltry 25k for the amount of skill, stress, and student debt you'd need to have to get that job. They're all leaving for other countries or other jobs leaving the UK without enough doctors.

[@kevinu.k.7042]

@@puccarts Agreed. As a retired NHS practitioner I can also tell you that the Trust executive committees get huge bonuses for reducing costs. This has been going on year on year since Thatcher's times. The boards are made up of or real estate, banking and finance sector people. They have little clue about health care delivery. In my last two years I went through two downsizing exercises. Our team was already too small to meet the demand. Yet, at each cull everyone was re-interviewed and ten percent were fired each time. The bonuses picked up by the board was far in excess of the money they saved. The NHS is also being privatised piecemeal and that process has gone a lot further than most people think. Successive governments have been running the NHS into the ground to break its popularity with the electorate. They will then complete the privatisation process. We are being pushed toward the American model of health care which costs eight times as much per head of population and for most treatments they have the poorest outcomes compared to all European health services. That model also leaves a lot of people uncovered. Even those with good health care cover find there are time limits of 3 and 6 months for an illness. So a chronic illness will see them loosing insurance funding at that point when more treatment is needed. We all need to wake up. It is a lot bigger than wages. Apologies for the rant.

[@g0801215]

It’s a Mexican standoff in the Liverpool housing market where asking prices are still too high.

[@voiceguy554]

Some of the latest research shows that even in 2008 housing prices crashed due to euphoria in investors (yes there were some people who were not worthy of mortgage and got it). It happened when those investors started selling. Most of the guys who got the house for living were still trying their level best to save the roof on top of their heads. While those new millionaire investors with high rate ARMs sold out when it was no longer viable for them.

[@TheSpyUk]

the newspaper also said to let from £340 pa compared to £3,850 to purchase thats a ratio of 11.32.. where in the country would you get that now..

[@g.p616]

With an annual net immigration rate of half a million people ever year into the UK (Source ONS); supply and demand dictates, house prices will continue to inexorably rise.

[@superk6487]

Not trying to be critical but the increase in services is not from higher wages but higher prices on materials and energy

[@earthcitizen3847]

I just recently experienced a disguising situation that landlord accepted my offer for 1 bed flat in south London and when the legal process came to final stage, the landlord refused to sell to us. He turned to other agent who promised to sell the flat for higher price 😅.

[@Tdr-jv2nc]

This sort of thing needs way more regulation. Your landlord should have been penalised for it

[@earthcitizen3847]

@@Tdr-jv2nc I contacted the agent ask them to talk to landlord for compensation but was told that this is not under British regulations, the vendor has the rights to accept or refuse buyers before the exchange of contracts 😅. I understand that landlords nowadays want to maximise profits out of each property.

[@SnowofLight]

Happened to me too. Last stage before completion - 'Actually, I don't want to sell right now after all'. This f*cking system.

[@earthcitizen3847]

@@SnowofLight the vendor should pay for your solicitor fees. But the reality is that everyone want to benefit out of current housing market before it crashes.

[@SnowofLight]

@@earthcitizen3847 He should have paid the fees, but yeah, UK laws means that he can pull out before exchange of contracts with no penalty :) This was last year, just as well as I would have been buying during the peak. He must have held off hoping he would get more money for it later down the line, not true anymore!

[@shabbos-goy9407]

With circa 500k people flooding into the UK YoY there will be no crash. Stagnation but no crash.

[@nah88]

That will always be conveniently ignored.

[@alegra8658]

I'm looking for a house in a particular street. 4 beds went for 675-700k. 5 bed up to 860 - between 2018-2022. We just viewed a house (4 bed) with an owner who asks for 975k.. 😵‍💫 do people believe that prices will go up now?

[@jonsnow6741]

Thinks inflation may well be very stubborn and the road longer .

[@simoncollins6529]

Living and working in London is a choice, if it's better value elsewhere then move

[@TomTom-my9kq]

Eye opening channel without bullshit. Pozdrawiam.

[@garethedwards2883]

Matt I think your videos are really enjoyable to watch as you are a very knowledgeable guy but PLEASE stop using the word crash as even a 10%drop if it ever happened is not a crash just a correction of the market. Thanks very much.

[@SpecialK845]

The last years have been unprecedented when it comes to pumping cheap money in to the global economy. Mix that with low supply of goods and services, it’s no surprise that inflation is here for the long run. Can’t speak on behalf of anyone else, but I’m not expecting UK’s economic situation to get better this year.

[@Chillednfunked]

I hope it does burst these tiny shoeboxes being built aren’t worth the money.

[@DaveTGarrett]

If the housing bubble does burst, how would it affect cash buyers? I'm presuming not too much as if they move in the future, even though the initially purchased property would decrease in value, the next property would proportionately decrease too.

[@equin9309]

Housing crash or dip? People who don't have to move will take their property off the market or wait for things to change, this reduces supply which will probably mean prices won't change that much. Then theirs the repossessions which will be snatched up by investors or the rich to hand to their children at a later date, again reducing supply and again Keeping prices up. While we have year on year increased demand for housing and limited supply don't expect things to change that much.

[@jonathanhowson6420]

The North isnt normal lad. Its grim up north, but we bloody love it.

[@MorningtonCrescent]

Shhhhh!!!! Don't tell the Southerners!!! (in jest - though I have posted some opposite advice in these comments).

[@nikkion2140]

Just cold up there, other than that Northerners are great.

[@MorningtonCrescent]

@@nikkion2140 and the welcome is very warm!

[@Jl-pi3wy]

How and where to find out how much a area's house worth ?

[@JJ-wd1wk]

Another quality video. Thanks Matt

[@rgal8791]

Good video, so many factors covid, war etc can impact the 18 year cycle.

[@3rodox]

The bigger the crash the better. Bring it on.

[@toucan221]

Thank Matt excellent video, seems like you packed a lot in there, I have just subscribed and look forward to the next film. 🙂🙂

[@SickPrid3]

21% in house prices is only bad for people who flip them it's very good for people who are buying to actually live in it

[@susanlewis1953]

Loving the videos - congrats on hitting 40k subs 👍😀

[@r.p.4126]

those years to save up 20% deposit is only possible when you are allowed to live with your parents🤣🤣🤣

[@r.p.4126]

I am from eastern EU living in UK for past 12 years and I was able to save up max 10% working in a not minimum wage job. I have no issue with living with parent but its not the way as it should be. Everybody should be able to afford house but the greed of the already rich people is just rising the prices even higher. We live in a foked up world and unless we stand up and change it, our children will be totally foked. and probably I woudnt have even those 10% if I havent been lucky enough to score the cheapest rent on 1 bed flat in sea side dorset town for the past 8 years where until recently I havent payd council tax as it was included. unfortunatelly the situation changed after covid so i am not even able to save as much as I was before

[@johnwhitcher4761]

There will be a housing crash if sellers accept lower prices Best thing is take you property of the market if you don't realy Need to move." No houses for sale means no crash "

[@loginoff2007]

A great content, but I am not too optimistic about so fast recovery. High interest rates will stay for a while at the peak level (probably until te mid/end of 2024). The history shows that if feds (and other central banks) drop them too early, then there will be a great chance to see the inflation rising again. It can go even higher.

[@nah88]

Basically, first time buyers will be forever screwed

[@itssanj8449]

Fantastic video, very informative!

[@jassisingh7644]

How to find current close to exact value of property?

[@muratdagdelen8163]

Instead of buying a house in these days, you will be better off to invest your deposit + extra money to pay your mortgage &rent in the long term until the ratio drops 4.5.

[@richardsracingmad]

You Tube is just now a huge advertising platform. 😮

[@rossgallie1]

Average price in guernsey is 640k for a house

[@stephen6262]

There is no houses being built where i live The houses are dropping though but for how long.

[@chrisj6321]

wont bank of england continue to raise rates?

[@kevinford6420]

Inflation is not going back to 2% any time soon.When the banks blow up soon, printing money will restart.That is inflationary IMHO. Sit on your hands folks

[@joshualowe3237]

Scotland looked to be significantly better off.

[@tomezmaples]

Just on your reasoning for the amount of drop in prices and the length of the recession you think we will live through. Have you taken into account the interest rates now compared to back in 2008. I seem to remember rates tumbling month on month straight after the crash to try and stimulate growth again. This time it appears rates can't come right back down, so doesn't that mean the recession maybe a lot shallower but take longer to pull out of.

[@AM_o2000]

It's better to compare with the 1990s crash, which was precipitated by an interest rate hike. Inflation is the greater threat to economic stability than a fall in house prices, so the BoE won't be able to return interest rates to historic lows in the near future and that will impact on affordability.

[@tomgl6684]

I'll be surprised if prices drop more than 5%. I'll be amazed if they reach a 10% drop.

[@natalianatalia383]

Is it USA market?

[@accesszero4803]

Am hopeing for a crash, am ready to buy again after not buying houses for 5 years

[@andrewtaylor6737]

Bit of a delusion video, we are in for greatest depression in living memory !

[@tomstory8502]

Graf vs Graph 🤔

[@bobodyuknow]

All the while people are employed housing goes up or stays up. I hate to admit it but it is how it is. I want it to be sent to goblin town but i still have a job lol

[@marie-louiseleroux828]

It is better to invest now!!!. You will never be younger than you are today and there will never be a perfect time to invest.. Due to compounding, which Einstein called the 8th wonder of the world, you can get rich slowly from investing if you do it from a young enough age.,

[@rapturas]

Don't speak too soon! There's a lot of economic uncertainity around the world. I'm holding off buying, as I fear another black swan event is on the horizon.

[@paulfr6768]

Praying for armaggedon. Buy to let landlords must suffer for they caused generations of young people to be priced out and have zero supply. I pray many landlords lose everything. I pray the rich will suffer.

[@daddo1600]

Go watch 'Moving Home with Charlie' that guy is fear mungering 30% drops...

[@AM_o2000]

They've already fallen c. 15% in real terms and the effects of the interest rate hikes hasn't even fed into the sold price data yet.

[@VegasMilgauss]

As a renter who’s friend take the mick as home owners… *cough* … HAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHJAAHAHAANANAHAHHahahahHhHAHA

[@joniandre10]

I like your content but please stop copying the videos from "PensionCraft"