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Capital Economics predict a 5% drop in house prices by the end of 2024 (blaming consumer confidence and mortgage rates).
JonoMarshall-
Could also add that Covid stamp duty holiday has brought forward a lot of demand
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Bizarre frothy market at the moment. It seems that offers are wildly over asking prices which in turn are wildly over what banks/mortgage providers are valuing properties at. I assume no one is making up the difference so assume a number of sales are falling through as a result.
el_presidente
EstelleGetty
In theory, consumer price inflation now leads to interest rate rises, mortgages become too expensive and forced sellers = price crash. We shall see