UK House Prices are currently FALLING at the FASTEST rate since the Global Financial Crisis, so why have I decided to START VIEWING properties NOW when house prices are widely predicted to continue FALLING throughout 2024?

The UK housing market crash started over a year ago, however, so far the major House Price Indexes such as Nationwide, Halifax, Rightmove and the ONS/Land Registry have yet to report any major falls. Even the most bearish HPIs only show that house prices have fallen approximately 5% over the past year.

In my opinion, these indexes don't currently appear to reflect what is actually happening in the housing market where some properties are seeing substantial reductions and those that are selling are often well below the asking price. If I make a buying decision based on the official data then there is a good chance I will be late to the party and miss the best time to buy a house in decades.

In the area I have been monitoring for the past 18 months, I have recently seen new listings with asking prices at least 20% below what they would have been during the peak. This to me is a clear sign that it's time to pay attention and if the right property comes up then it may be worth considering.

It will be almost impossible to time the absolute bottom of the market as we won't know that house prices have stopped falling until many months later. Also, it is very unlikely that my dream home will be for sale at the bottom of the market so I will likely have to pay a bit more either on the way down or the way back up.

Are you planning to buy a house in 2024? How much will house prices fall in 2024? Let us know in the comments below!