Real estate expert Nick Millican has issued a number of predictions related to the state of the housing market in London. These are forecasts that hold good for properties that are located within the bounds of the city. However, to some degree, they may also have relevance to conditions that obtain throughout the rest of the U.K.
Time will tell if this is the case. The main thing for people to be aware of is the fact that real estate expert Nick Millican has gone out of his way to make these predictions as close as possible. This is to say that he has made sure that each of the details he speaks of are relevant to conditions in the housing market.
The proof of this is in the fact that some of them are already being adopted by real estate experts. According to info received by Nick Millican, the price of homes in the city of London will soon descend by a level of roughly 10 percent.
This is in relation to the time of their peak which was forecasted some months ago. The descent will reach its climax by the first half of 2024. Sometime after this, it will finally begin to reverse itself (London-post).
As testified by Nick Millican and many of his peers in the industry, this is hardly the end of the story. He believes that this trend will equate to another four per cent price drop next year. Mortgage pressure will continue to put a serious damper on the ambitions of would-be buyers.