I prezzi delle case in aprile in aprile: “L’offerta sta iniziando a superare la domanda”
House prices slump in April: ‘Supply is beginning to outweigh demand’
di FriendlyUtilitarian
I prezzi delle case in aprile in aprile: “L’offerta sta iniziando a superare la domanda”
House prices slump in April: ‘Supply is beginning to outweigh demand’
di FriendlyUtilitarian
27 commenti
Keep them coming until the point where demand is able to actually pay for the supply.
House prices need to fall, one way or another.
more like prices outstripping income. plenty of people want a home. we just can’t afford them
Overall migration, if you include previous EU migration, is maybe starting to fall
First sentence of article:
> UK house prices fell in April as affordability issues constrain demand following the end of the stamp duty holiday in March.
We don’t have a supply problem, we have a price problem. People can’t afford to move. Stamp duty, other costs and unaffordable prices on housing stock.
Not expecting a crash but we’ll see more homes on the market that will hopefully push prices down.
Logical situation after stamp duty increases. Need more than just one data point to make any worthwhile claims. Anyone wanting to move would have tried to complete in March. The article confirms march saw a very high number of completions.
TLDR…
The ONS pinned the monthly drop on an increase in payable tax on properties due to the end of the stamp duty holiday on March 31 for first-time buyers.
A friend of mine was forced to leave his rented apartment because the landlord wanted to increase their rent by 20%. Eventually he could not actually find someone willing to pay that amount and he kept decreasing the asking price, until it dropped even more than my friend was willing to pay. At that time he had moved out anyway.
So many people inconvenienced by stupid greed
Average wages in the UK have gone up approximately 5.5% in the last 12 months. House prices have gone up about 6.5%.
It’s almost like reducing immigration might remove pressure on house prices.
That said, stuff like the renters rights bill will just mean rents will continue going up, so it’ll be just as hard to save up for deposits. Argentina a good demonstration of how overly controlling the market helps no-one except established tenants.
No shit Sherlock. Seasonal house selling time is in a slump as the interest rates are still too high for mortgages.
Get the base rate down and the .market will take off again.
I don’t think it is supply outweighing demand. It is that the price point they are marketing at is not appealing.
If lots of people are struggling it becomes hard to justify an average home (3bed terraced) at £250k.
If these houses dropped their prices in alignment with wages, cost of living and current global economic instability making people anxious. The houses would sell and not be on the market for long.
We always look at house prices as a function of supply and demand of property and credit but I think the cost of living, taxes and rents are so high in general that people simply cant afford houses like they used to.
It might look good if houses are coming down in price but its masking all the affordability problems that underlie it.
So what you’re saying is I should sell my house now, move back in with my folks, then buy at a later date?
I’ll have to run it by the wife and kids.
Not in my city. Bristol saw a 8-9% in the last year. I am cooked.
Temporarily blip caused by increase in tax as mentioned in the article.
> Sales volumes in March were “unusually high”, according to the statistics body, followed by low volumes in April.
This time next year housing will be at new all time highs, guaranteed.
I own my own home and I’m still super happy about this. Negative equity is only an issue if I want to move somewhere else, even then it pales in comparison to people being homeless or financially abused by hoarding slumlords.
But but but I was reliably informed this was impossible due to immuhgrayshun? Some mistake, surely?
I don’t think it’s a supply and demand situation. Plenty of people want houses but can’t afford to buy them.
Reaching the physical end of affordability. This is what happens due to greed. Financial institutions using property as a golden goose and then letting domestic property take up the shortfall from commercial, since covid . Still a massive shortfall in property vs demand. Just what’s out there is unaffordable without high wages or bank of mum and dad to help
Supply is absolutely NOT beginning to outweigh demand. Have we suddenly lost a chunk of population and built 1000’s of houses? People just cant afford it
My pension my beautiful pension! Bastards! Bloody poor people
The House price slump.
Yesterday.
£265,000
Today
£264,999.99
Slump is slump I guess
Gonna need some more migration to pick up the slack and keep those sky high house prices up
Slump? What down 1% but up 1000% over the last decade?
Moved home.
Stop paying absurd greedy landlord £1200pm rent when i get paid £2100 a month after taxes.
Parents love it im home, helping them with the house work and decorating, im working full time. They love the dog too. Id rather give my parents £500 a month than some greedy cunt
Looks like the house price drops are at the top end:
https://x.com/moving_charlie/status/1935234670880305347
>House Prices 47% down in Chelsea (citing Land Registry).
>That’s a crash, not a slide.
>Two takeaways:
>1. Localised house price collapses are already happening
>2. “The rich” are the most affected, not the least.
This might be down to non-doms selling up due to Rachel Reeves budget.