House prices finished the year 1.8% lower, according to Nationwide, which predicts no growth or further decline in 2024. It is not a big deal that house prices are falling, because the problem is mortgage rates as well as house prices. If both of them fall, there is a possibility that sales will increase.
Even if house prices fall, interest rates vary between 5.7 and 6.3 percent. In other words, interest rates fill the price difference between falling house prices.
In other words, house prices are falling, but the number of home buyers is not increasing. The worse news is this: There is a serious decrease in the number of home prices coming from abroad, especially in London. In other words, in proportion to the capital coming from abroad.
What kept this country afloat was the constant flow of money from abroad, but this too has slowed down. Because the economic crisis that cannot be resolved in the country and the ineffective initiatives of the government seem to have affected our reputation in the world. No one will invest in a place where there is a constant crisis.
