Land Registry April house price data

House prices are already falling, as reported by the Land Registry for the past 5 months. And bear in mind, their figures lag the completed transaction data they're based on by several months.

I'm expecting property prices to fall sharply over the coming months. It's a mathematical certainty now. Monthly drops of 1-2 percent will become the norm. Extrapolate that out and we could easily see an annual decrease of 15 percent between now and next summer, perhaps 25 percent to summer 2025. And that's nominal prices. Adjusted for inflation, real price falls will be much greater.

Having seen what can only be described as very good new business levels in the past 2 weeks would hopefully mean that although the market will slow I don't think properties are likely to crash with the continued shortage of decent properties on the market.

As the disappointing data from different sources is now beginning to collide, it feels like the thundery storms we have seen recently weather-wise are now inevitably going to hit the property market as well.

The hope is that the deluge of negative data will be as similarly short-lived as the summer storms, but it would seem unlikely that they can be avoided over the next couple of months.

However, despite the volatility, uncertainty and slight smell of fear that is permeating currently, regional discrepancies and imbalances in performance will still persist and with the imbalance between supply and demand still a factor in the Scottish property market at least, a flatter rather than falling market will likely be the prevailing wind for the remainder of 2023.