The UK Housing Market is BROKEN and the latest house price indexes are HIDING the true scale of the Housing Market CRASH that is currently happening across the UK!

Over the past year, we have seen raging inflation, soaring mortgage costs, a huge slowdown in mortgage approvals and widespread price cuts on Rightmove. However, despite these clear downward pressures on house prices, all major House Price Indexes are still reporting that UK house prices have either gone sideways or even up in 2023!

On the contrary, those on the frontline have seen some of the largest price drops and slowest markets since the global financial crisis. This clear disconnect between what is actually happening vs what the house price indexes are reporting is causing stasis in the housing market.

Sellers are reluctant to reduce their asking price when all major HPIs are suggesting the UK property market is doing just fine. Buyers are unable to pay these skyhigh house prices as higher interest rates have pushed up mortgage costs.

This confusion has left both buyers and sellers asking will house prices go down in 2024? And if they do, just how much will house prices drop in 2024?

Post your UK house price forecasts in the comments!