00:00 You don't have to cast your mind back very far to remember a time when the headlines
00:05 were dominated by the skyrocketing cost of property. Post-pandemic, homeowners scrambled
00:10 to get their hands on more space after spending so long indoors, and prices reflected that.
00:16 Now though, a different story. Lloyds Banking Group is predicting we won't see a slowdown
00:20 in falling house prices until early 2025. Their property market experts think by the
00:25 end of this year, we will have seen them drop by 5%, and are forecasting another fall of
00:30 around 2.4% in 2024. Similarly, Santander is predicting a 2023 grand total of slightly
00:37 higher - 7% - and 2% the following year. The forecast suggests a total drop of around 11%
00:44 since their peak last year. It's not until 2025 that both lenders are predicting a property
00:49 price increase, in both cases negating the fall of their previous year's prediction.
00:54 Lloyds forecast a 2.3% increase, and Santander expect a 2% rise.
Comments