Empower Your Business with Pipeline Deals in United Kingdom

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hey my name is James Nicholson and welcome to my property Channel house prices are expected to rise until the end of 2025 in this video we've got the latest Halifax data we're going to talk about what average house prices are at the moment are they up are they down are they flat we're also going to talk about which regions have done better than others in the last few months because that's interesting to know where is maybe a good place to invest right now and we're going to talk about lots more besides so before we jump into this as always if you haven't done already do smash subscribe over there and hit the Bell notification we're on the way to 26,000 subscribers and while here smash like tickle like do something to that like button that really helps me with the YouTube algorithm and that's why you found this channel because somebody else did that so go and do that right now so I like to listen to as many data sources as I can to make up my own inform Med opinion and decisions on what I feel will happen in the market so every month we look at the Nationwide data which we looked at a few days ago last week uh you can go and check what that said we listened to Halifax we listened to the office of national statistics as well uh we'll listen to right move that's more on asking prices and Z Plus sometimes have an opinion as well now the reason I like to listen to the lenders in particular is because they have that crystal ball they know what's coming down the pipeline you see a lender will know today most of the deals now that are going to complete in 2024 so they will have deals that are an early stage uh maybe those deals that they've got right now have had valuations with them maybe they've got mortgage offers in principle uh going out so they kind of know what they're willing to loan money out at H and what value those properties are so not many other places really have that kind of data and especially at the kind of scale you might get agents that can predict stuff but really this tells us what house prices are going to sell at and so Halifax are saying that they feel that house prices are going to continue to rise until the end of 2025 that is something that could happen the market right now is fairly flat um a lot of people will waiting for election that happened now they're waiting to see what the policies are with the new labor government a lot of people are just waiting for interest ratees to drop and so I think you'll get a little influx into the market when you see some more rate Cuts particularly when those cuts are from the bank of England rather than mortgage lenders some people just want the market to uh Peak uh and and and potentially see some sort of downward Trend before they jump in as well so there's lots of different reasons why people are sitting out the market Market but I think the key one is interest rates that is something that a lot of people I've spoken to friends that want to buy by toet but they don't want to really get lumbered with a high interest rate in my opinion you can buy at whatever the interest rate is if the deal is right you just saw last week I completed on a flat for 120 Grand in dking there's never been a flat that cheap for a long time in fact that same property was valued at that in 2013 so what are Halifax saying well Halifax are saying the market in their opinion right now is pretty much a flat Market they're saying this month house prices were down £500 um so that's really not a lot is it um but that is really a flat Market anyone that was probably watching this channel that was buying a property could negotiate ,000 500 quid off any deal most people would accept that in this market just to get the deal done so their average house price at the moment um ing to Halifax data is 288,000 stuff um on a rolling 12 month basis they are seeing positive signs they're saying the market is up and so for 12 months they are saying that the market is up 0.4% not as high as Nationwide but close enough right and so they've got similar numbers there now let's look at a region by region basis what is going on in the market well the east of England is doing the worst at the moment so the east of England is down and it's down 0.9% uh so nearly 1% that's the east of England um next is London so London is back up London was down a bit quite a bit so in central London the more expensive properties I'm talking Kensington Chelsea fulam those sorts of places some of those were down as much as 22% at one stage so is there a recovery in London well it hasn't recovered that 22% but it is starting to move in the right direction again uh so it's the opposite of this so it's up but it 0.9% up this is London as an average right they haven't gone Barrow by bur on that so London is back um in the right direction Scotland is doing uh pretty well Scotland's been pretty robust uh and so Scotland is up for the year on an annual basis 1.6% Wales Wales is interesting because Wales did have a quite a big drop uh so the last year is now starting to come back Wales but it was down significantly and all of these places when you take into account the inflation levels at 11% that we had are down in real term due to inflation so affordability that way has markedly improved so um where else have we've got here so Wales is 2.7% up which is not bad um where else have we got here we've got um the Northwest has done pretty good and so they are up 3.8% in the Northwest which is pretty good um and the the best performing place in the whole of Great Britain is Northern Island and Northern island has done really well uh and it is 4% up in Northern irland so it's interesting to see on a region by region basis what I can see here is the the cheaper places have done better the more expensive places have done not so well well and that really does show what we have seen in other data sources as well we've been told that the bigger properties just aren't selling in this market at the moment the higher interest rates means they're just not affordable uh for a lot of people and so people have also been downsizing which meant the lower ends of the market the one bed two bed Studio Flats small houses two bed free bed houses uh those have been going up in price but anything like four bed five bed or the Mansions they are the ones that have been struggling so it's interesting to see Halifax data they're saying that house prices will marginally keep going up until the end of 2025 that's their prediction at the moment what do you think about that um I feel that they could be right once you start seeing rate Cuts house prices have been really robust in this market once we start seeing some rate cuts that is going to bring some more activity into the market and we haven't seen distressed sellers uh we haven't seen that that could happen but right now it's not something that we're seeing we're not seeing the market flooded with new listings let me know your thoughts questions and opinions 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