Savills' Frances McDonald: UK House prices "will be 10% lower" by the end of 2023

The video discusses the UK real estate market, highlighting recent trends, potential price declines, and regional disparities. It explores factors that may mitigate significant price falls, such as stable unemployment rates and fixed mortgage terms. The role of international buyers and the dynamics of the prime market are also examined. Advice is provided for first-time buyers, with a focus on long-term investment potential and expected market recovery by 2026.

What was the main reason for the decline in UK house prices in late 2022?

• Increased unemployment

• Government regulations

• Rising interest rates

• Decreased demand

Which region in the UK is expected to experience the most significant house price decline?

• North of England

• Scotland

• London and the southeast

• Wales

Why is a 30% fall in house prices considered unlikely?

• Increased forced sales

• Stable unemployment and long-term fixed rates

• Short-term mortgage rates

• High unemployment rates

What is a characteristic of the prime real estate market in central London?

• Decreasing property values

• Low international interest

• Dominated by equity

• High reliance on mortgage debt

What is the expected property price growth over the next five years?

• 24% annually

• 6% in total

• 10% annually

• 30% in total