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The Property Podcast
TPP564: Expert property predictions for 2024
Jan 4, 2024
Industry experts provide predictions for the 2024 property market including rising prices, availability of properties, and stabilization of price falls. They discuss the impact of a general election and emphasize long-term investment strategies. Rob Wiggins predicts a more positive and certain property market with increased transactions and lower interest rates. The hosts express gratitude to listeners and announce upcoming content for the new series.
20:20
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Quick takeaways
- Despite recent turbulence, property expert Akhil Patel predicts that prices will go up, especially in areas with significant rental growth, due to easing conditions, lower inflation, and increased competition in the marketplace.
- Head of research at Hampton's estate agents, Anisha Beveridge, forecasts a stabilization of house prices in Great Britain with 2% growth in Q4 2024 driven by falling mortgage rates, expected cuts by the Bank of England, and a limited impact from the upcoming general election.
Deep dives
Prediction 1: Housing prices will increase in 2024
According to property expert Akal Patel, despite recent turbulence in the housing market, he predicts that prices will go up, especially in areas that have experienced significant rental growth. He attributes this to easing conditions, lower inflation, and increased competition in the marketplace, resulting in greater availability of credit for property investment.
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Discover
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