UK House Prices Are UP by 17.5%

Brett Alegre-Wood
November 10, 2020

Everyone has been tracking the house Prices in the UK

Most people are predicting house prices to drop as the effects of the pandemic but it does not seem to be as bad as what everyone was expecting.

As much as it pains me you know, the news is all about house prices. Every week there's you know 10, 20, 30 articles about house prices and all the things that actually matter to a degree there's hardly anything spoken of or there's you know it's it's kept out in the back thing.

House prices are definitely the thing that most people go for. Interestingly at the top end now an amazing prediction is house price growth to reach 17.5% by the end of the year. Wow you know this is moving you know it's a moving company but they're basically saying it's already grown 7% which is correct and it's going to grow further 8.8% in the last quarter. That's a big prediction. You know what there may be some truth to it too and I think that's going to be an interesting thing.

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It's a very different market in Scotland, it's a smaller market. There's some fundamental changes namely oil and gas with all the issues there and that I know Aberdeen and a few of those places house prices have dropped considerably. So, it depends on how that's reacted.

Most people were predicting house prices to drop. Most people really think you know quite a big drop you know you've got for instance CEBR (Centre for Economics and Business Research) you know they predicted 13.8% drop they've corrected it now to be roughly 10% drop next year.

Which is quite interesting because you know that's a big turnaround now you might say well they've just put it back a year that's fine but you've got to account for the potential seven and a half percent to probably up to 15% you know percent of seven and a half percent as they're saying there.

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There are a lot of you know experts predicting all sorts of stuff. Now, I do think even if they go up this year I would have thought they would have started to drop off or ease off now, they haven't. There's obviously a lot more momentum and there's a lot more things going through in terms of the pipeline and that.

Maybe that will see us through until the new year and maybe this stamp duty thing actually is going to get us through that six months into spring. If you look at it most, a lot of companies are really just trying to get through winter and that's the focus for them and let's face it you can't rock them on that.

Video Transcription

As much as it pains me you know, the news is all about house prices. Every week there's you know 10, 20, 30 articles about house prices and all the things that actually matter to a degree there's hardly anything spoken of or there's you know it's it's kept out in the back thing. House prices are definitely the thing that most people go for. Interestingly at the top end now an amazing prediction is house price growth to reach 17.5% by the end of the year. Wow you know this is moving you know it's a moving company but they're basically saying it's already grown 7% which is correct and it's going to grow further 8.8% in the last quarter. That's a big prediction. You know what there may be some truth to it too and I think that's going to be an interesting thing. Most people were predicting house prices to drop. Most people really think you know quite a big drop you know you've got for instance CEBR (Centre for Economics and Business Research) you know they predicted 13.8% drop they've corrected it now to be roughly 10% drop next year. Which is quite interesting because you know that's a big turnaround now you might say well they've just put it back a year that's fine but you've got to account for the potential seven and a half percent to probably up to 15% you know percent of seven and a half percent as they're saying there. There are a lot of you know experts predicting all sorts of stuff. Now, I do think even if they go up this year I would have thought they would have started to drop off or ease off now, they haven't. There's obviously a lot more momentum and there's a lot more things going through in terms of the pipeline and that. Maybe that will see us through until the new year and maybe this stamp duty thing actually is going to get us through that six months into spring. If you look at it most, a lot of companies are really just trying to get through winter and that's the focus for them and let's face it you can't rock them on that.


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