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    UK house prices fall by more than expected amid economic uncertainty
    United Kingdom

    UK house prices fall by more than expected amid economic uncertainty

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    22 Comments

    1. Convincing_Tree on

      More amazing Labour growth and economic brilliance. Negative equity here we come! Just like the Blair days!

    2. Jonhinchliffe10 on

      Economy good when house price go up. Economy bad when food price go up

    4. Gp_and_chill on

      House prices will either remain stagnant or slightly reduce as folks simply don’t have the money to fork out £300k for a house. It’s poor value for money for what you’re getting.

    6. Matt7257 on

      It’s such a nothing point – house prices should be viewed in year on year at the shortest, but really in terms of growth over a few years.

      Month to month can be based on so many factors, even when overall prices could be going in the opposite direction

    7. jodrellbank_pants on

      Where lol no dip where I am, im helping my niece look for a house, people aren’t even accepting offers even auction prices are rocketing

    8. PM_ME_BUTTERED_SOSIJ on

      Oh look, they have begun to cut migration and more good things are happening, who could have predicted.

    10. Ok-Comfortable-3174 on

      It’s all relative. One bump in the road. UK really needs to get out the dull drums. Social media profegates a negative spiral sentiment that just isn’t conducive to growth

    11. brexit-unicorn on

      No mention of the fact that big housing developers are swamping a sick market with vast numbers of badly built little boxes (I’m in Exeter UK – blighted by new estates), given carte blanch by the government to buy up and sit on huge acreages of land sold to them by farmers who see a quick profit or can’t make a profitable living. (The Dutch government don’t seem to find it problematic to sell land to individuals who want to self build). Older housing stock is difficult to shift unless the owners discount and take a big hit: Estate agents continue to overvalue in order to get clients on their books, then 3 weeks in drop the bombshell and get the price cut. Buyers aren’t obliged to follow through on an offer, so a stagnant situation is clogged with chains that aren’t progressing: properties that had deals fall through on a whim, have been surveyed multiple times… Maybe it’s time to follow the Scottish system and use escrows to bond the prospective purchaser to their offer?

    12. travelcallcharlie on

      Man the guardian has really dropped off in quality lately. In the middle of a housing crisis, people struggling to find somewhere affordable to rent.

      Meanwhile, the opening line from the guardian:

      “UK house prices suffered a steeper than expected fall last month and the biggest quarterly drop in value in almost a year”

      This is a good thing, housing needs to be more affordable. Cheaper housing is how you beat reform.

    14. Idea-Aggressive on

      Listing prices don’t matter when people can’t even secure job interviews and have to move to London for pennies where rooms in flat shares go for a bizarre 1.1k a month

    15. wolfiasty on

      Last 3 months average price drop of 0.3%, and last 12 months rise of 2.5%.

      Riiiiiight. An alarming headline, for a nothingburger clickbait article.

    16. luvinlifetoo on

      There has been a real terms drop but affordability has also dropped. It’s a crazy situation where you have to work all your life for a bland average house in a side street.

    17. dmastra97 on

      All I hear is homeowners complaining they’ll be paying for equity they don’t have if prices fall.

      This just sounds exactly like paying rent though so they should be fine with it if they’re fine with a lot of people renting rather than building more houses.

      Otherwise they’re just being hypocritical.

    18. Positive-Sorbet1719 on

      It seems larger houses in the SE have falling values due to sellers downsizing. I expect demand is lower for larger properties due to the trend of smaller families. Belfast and NE are growing ok but it’s definitely a nuanced market I.e areas and property types are all doing different things.

      ONS figures revised average prices down by over £10k on average thus going forward they can show growth that just hasn’t happened.

      Personally I expect average growth to be less than inflation. With interest rate deals that were fixed during Covid expiring many people will have significantly higher costs and this will affect affordability, disposable incomes and desire to upsize.

      A crash would be awful but below inflation growth would likely be best option improving affordability and maintaining confidence

    19. carbon_dry on

      Aren’t house prices cyclical with a general trend towards up due to inflation?(Not trying to be edgy, genuine question!)

    20. Zhanchiz on

      >Amanda Bryden, the head of mortgages at Halifax, said the figures showed that the housing market had now absorbed the rush of activity as buyers tried to complete purchases before stamp duty increases in England and Northern Ireland in April.

      Seems like the headline is trying to combine two things together. It is sat house price are down (fact) during a period of economic uncertainty however the two aren’t related as the article makes it clear that prices falling is due to the artificial rise in the previous months to complete before stamp duty changes.

    21. luvinlifetoo on

      An economy propped up by rising house prices is a fragile illusion—fueling inequality, debt, and speculation massively choking real productivity and screwing younger generations out of basic security.

    22. Seraphidian on

      wild that we need economic uncertainty for house price to drop.

      how does that work lol