UK House Prices have been FALLING for over a year, yet many people (often those with vested interests in the housing market) are still hopeful that a UK house price CRASH can be avoided as they believe the government will step in if house prices fall too far.

This started during the global financial crisis when governments and central banks stepped in to bail out the markets instead of letting them take their natural course. Recessions and housing market corrections are supposed to be a normal function of a capitalist market cycle, however, politicians have decided this is no longer acceptable and choose to intervene instead.

Even if the government does try to bail out the housing market, I firmly believe it won't be enough to prevent a full blown housing market CRASH!

The UK housing market is already down over 5% from its peak last year and the economic outlook suggests things are likely to get even worse in 2024 and beyond.

House prices are very likely to go down further next year and any house price forecasts that suggest otherwise should be treated with extreme caution.

I have been making regular UK house price predictions over the past 12 months and so far the UK property market has yet to prove me wrong. It might be taking slightly longer than I had predicted, but I believe the eventual destination remains the same.

What do you think - how much will house prices fall in 2024? Let us know in the comments below!