House Asking Prices FALL Faster Than Expected In July

House Asking Prices FALL Faster Than Expected In July
July brings unexpected news as house asking prices fall faster than anticipated! In this video, we explore the reasons behind this sharp decline, analysing market trends, economic factors, and what this could mean for buyers and sellers. Stay tuned for expert insights and predictions on the future of the housing market. Don't forget to like, subscribe, and hit the bell icon for more updates on real estate trends and market analysis!
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[@propertyaccelerator]

Read MORE about it on our blog: property-accelerator.co.uk/rightmove-highlights-fall-house-prices/

[@kellywalker4494]

I watched a video from this guy yesterday saying house prices are up, then today he says they’re down. From what I see they’re definitely down quite significantly and I see some houses hanging on the market for months! It’s also a myth that there’s a shortage of rental properties. There’s definitely no shortage, quite the opposite in fact there’s an oversupply. Context, I live in East Leeds.

[@zenastronomy]

frothing markets indicates trouble

[@propertyaccelerator]

Different data sources are seeing different things for sure. Rightmove say down, while Nationwide say up.

[@4Clover128]

Definitely not selling like hot cakes as before. People got no money to buy or priced out but most people are holding onto their cash for the unforeseen future.

[@DowntownR]

Prices are over valued and unaffordable. Only two directions. Sideways or down

[@propertyaccelerator]

👍

[@madmountainman5197]

I'm not waiting on the bank rate dropping or anything else happening. House prices are unaffordable whatever happens to the base rate, so i'm still waiting for EA's and sellers to start getting realistic and pricing their properties accordingly.

[@propertyaccelerator]

🙏

[@TazBo-wd2ig]

We have just purchased a house for £325k with an 5 year fixed interest rate at 4.80% I know that the interest rate is going to go down further however it took me 2 years to find this house so I am just going to have to bite the bullet.

[@propertyaccelerator]

Nice if the numbers work on that go for it, you know in 5 years when you renew its likely rates will be cheaper so great win.

[@asha8090]

STOP RAMBLING GET TO THE POINT

[@propertyaccelerator]

😬

[@steamhammer2k]

The referendum might make people uncertain about selling or engaging in a transaction, plus they might be expecting rates to fall. With rates so low compared to past I would just get on with a purchase because house prices being lower translate to lower payments, as you can be certain that house prices will increase when rates drop putting you back to same level of payments.

[@propertyaccelerator]

I think a lot of people have the mindset they dont want to buy at peak rates.

[@steamhammer2k]

@@propertyaccelerator I agree, I would buy when house prices are low, as you can always look for better rates down the line. The purchase price is fixed at what ever you paid on day one.

[@Nijel-oh3iz]

Asking prices going up In West London. Decent houses selling above asking £. Difficult to understand why prices rising as they are so high already.

[@propertyaccelerator]

London dropped last year so people are coming back into the market.

[@mollyandthewonderpups5708]

Agree that most potential buyers will wait till the BoE base rate reduces, but another key consideration for these folks will be affordability. The new government has been very vocal on the fact that the public finances are in worst state since 1945 and public services are broken and need significant investment. Neither of these issues were discussed or costed in their manifesto. The government will need significant additional income to address these issues and despite promising not to raise taxes in their manifesto will be forced to, and will blame the conservatives. Increased taxation will affect affordability.

[@propertyaccelerator]

Great points Molly

[@drewhodge3820]

But it only covers the house price that went on the market over the last 30 days.

[@propertyaccelerator]

Correct but it shows sentiment of new sellers.

[@Entertain8-cu5or]

How can we be certain rates will drop? In America Powell has been saying since January that he will drop rates but keeps postponing it. He might eventually tell the truth in November and say he will not drop rates after all.

[@propertyaccelerator]

I just feel he will try to help Democrats, 100% he wont want Trump to win.

[@annieanonymous611]

Not where I live unfortunately!

[@propertyaccelerator]

Are you seeing prices up?

[@graemejones9707]

I would imagine a lot of homeowners held out some unrealistic hope that Labour could be kept out of power. Now the inevitable has happened, those people are being pragmatic and selling up before Labour destroy everything around us.

[@propertyaccelerator]

👍

[@handles-are-pointless]

When asking prices rose you've labelled that as "house prices rise". When they drop you somehow happen to label them correctly this time?😂

[@propertyaccelerator]

Go back and check I always say they are asking prices not sold.

[@martinbradshaw3230]

Up 0.4% Annual but down 0.4% in just July !🤔

[@propertyaccelerator]

Yes the other 11 months were up.

[@granthanks3557]

Be up in again in2 days as per his videos

[@propertyaccelerator]

Grant each video I share the data sources, it might be up as you say the market is up and down currently.

[@drewhodge3820]

There is a massive uncertainty now Labour has got into power. All my friends that run businesses (many own rental properties) and the massive uncertainty on taxing the so called rich. Your average Joe doesn't understand someone who employs staff and earns a good wage can already be paying 50-60% tax. They pay that tax and often pay for private schools for their kids. Never getting any financial support towards that education, which they are already paying in their tax. This is why the biggest number of millionaires are leaving the UK by the thousands. Labour crippling the UK economy, so they can turn the UK into a Communist Socialist dictatorship.

[@shaunmabey9790]

Crippling the economy? They haven't been in for 5 minutes

[@jeremys1019]

The average Joe should be worried about the rich who don't work, rather than the tax paying well off/rich workers.

[@nancyhood8395]

And let the lying corrupt inept incompetent tories carry on ,!!!

[@propertyaccelerator]

👍

[@graemejones9707]

@@nancyhood8395 I'm afraid a new generation of mutton heads needs to learn the hard way what a Labour government means for working people an their finances