Darren | HonestMoney.co.uk @DarrenTheDegen Twitter profile

Pinned Tweet

Darren | HonestMoney.co.uk

7 months

Do you think the major UK House Price Indexes (Nationwide, Halifax, ONS, Rightmove etc.) accurately represent what is happening to house prices in your area?

Yes

163

No

885

Other (comment below)

43

17

12

31

Last Seen Profiles

@star_scholars

@marti_mcguirk

@thejoesgfc

@BisleriZone

@madderskingdom

@_CL0UDK1D_

@manakgupta

@ComicsJared

@J3MSU

@ingenierosfj

@NicolNahir2

@K5YqNRBCUxIvYxK

@jjowens_3

@IDinsight

@CraftKrz

@DerynCarter

@pruvisto

@KondwaniMunth11

@BristolUniLaw

@Recoba911

@Esther25657857

@CD_ESA

@SarahMeyohas

@Lamar_Baseball

@LimaMaria87301

@d10213x

@FLShines

@bcn_ajuntament

@metaversemm

@sHockWaveOW

@joshiyams

@NtgTv

@CidPhys90

@euranov

@Saikopoker

@nmsaftw

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

A quick comparison of 2% vs 6% rates on monthly mortgage payments (based on a 25 year term). There is no way house prices that were driven up by these low rates survive this huge jump. Monthly payments increase by 52% 🤯

39

64

287

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Affordability is everything... Avg. UK House Price: £285,000 25% Deposit (FTB Avg): £71,250 Mortgage: £213,750 Term: 25 Years 2% Rate = £906pm 5.5% Rate = £1313pm That's a 45% increase! To maintain the same affordability, a buyer would sacrifice £65,000 of buying power!

38

31

241

Darren | HonestMoney.co.uk

@DarrenTheDegen

7 months

My word there is some absolute sh*te for sale on Rightmove. Even if house prices fell 30% tomorrow I'd still struggle to find somewhere I'd actually want to live!

31

7

205

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

I'm seeing a lot of this again... It's never the price, right? 😉

17

15

176

Darren | HonestMoney.co.uk

@DarrenTheDegen

7 months

Mortgage lenders cutting rates is NOT a sign of a healthy housing market (although it may help improve activity). The mortgage "war" is a symptom of a stalling housing market. Lenders are only cutting rates because they don't have enough customers to lend to!

23

19

166

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Rightmove asking prices up 1.8% month on month for NEW listings. An almost meaningless statistic when in many areas huge numbers of listings are being reduced. A more accurate headline... "Estate agents continue to overvalue as sellers refuse to accept market reality"

15

6

138

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Key factors that contributed to the housing bubble: ❌ Low interest rates ❌ Wage growth above inflation ❌ Help to Buy ❌ Buy to let speculation ❌ Quantitive easing ❌ COVID savings ❌ Work from home ❌ Stamp duty holiday House prices will not survive losing ALL of these!

28

16

134

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

I wonder how the "everything is fine" brigade will try and spin this. The UK housing market is built on cheap leveraged debt, without that it's in big trouble. Supply and demand becomes irrelevant when affordability is crushed.

19

20

124

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Figures for Skipton's 100% "Track Record" Mortgage UK Average House Price: £287,500 Interest Rate: 5.49% Term: 25 Years Monthly Payment: £1764 😅 Or, if you go up to the £600k limit Monthly Payment: £3681 🤯 Don't forget the inevitable negative equity as well 🙈

24

14

113

Darren | HonestMoney.co.uk

@DarrenTheDegen

11 months

UK House Prices - August 2023: Halifax: ⬇️ -1.9% month on month ⬇️ -4.6% year on year "The biggest year-on-year decrease since 2009!" Nationwide : ⬇️ -0.8% month on month ⬇️ -5.3% year on year "Home mover completions (with a mortgage) 33% lower than 2019 levels!"

16

10

108

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Rightmove "asking" prices for "new" listings DOWN -1.9% month on month. Now imagine how bad this figure would look if it included reductions in existing listings as well. We said the second half of 2023 was going to be messy, is this an early indicator of things to come?

8

9

108

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Are we really celebrating inflation being 4x above target?

12

4

103

Darren | HonestMoney.co.uk

@DarrenTheDegen

10 months

Introducing the brand new "Schrödinger" house price index from Nationwide. Where house prices can be falling and not falling at the same time 🤡

13

10

101

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

My detailed analysis of the latest Rightmove ASKING House Price Index... Excluding existing listings 🤡 Excluding reduced listings 🤡 Month on Month = Guff Year on Year = More Guff (inspired by @moving_charlie )

9

5

98

Darren | HonestMoney.co.uk

@DarrenTheDegen

6 months

If Rishi wanted to avoid a recession, he should have ditched the ONS and asked Halifax instead! I'm sure with some hedonic regression modeling and seasonal adjustment we could have seen positive GDP last quarter 😉

4

94

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Something interesting to try on Rightmove if you like anecdotal evidence that the market is teetering... Search your usual area and then sort by "Newest". Go through the first 50 listings and see how many are reduced. For the area I track, 30 of the 50 have been reduced 😱😱😱

30

9

93

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Rightmove top 25 results in my area when sorting by "Newest Listed" Reduced Reduced Reduced Reduced Reduced Added Added Reduced Added Reduced Added Added Reduced Reduced Reduced Reduced Reduced Added Reduced Added Added Reduced Added Reduced Reduced How is your area looking?

44

9

91

Darren | HonestMoney.co.uk

@DarrenTheDegen

11 months

There are certainly a large number of "sellers" on Rightmove who don't seem that fussed about actually "selling"! 🤷‍♂️

12

4

93

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Here is the housing market cycle diagram I referenced in last night's YouTube video (channel link in profile). I think we are currently at "Fear" and heading into "Capitulation" (although there is still an awful lot of "Denial" about). Where do you think we are in the cycle?

38

10

93

Darren | HonestMoney.co.uk

@DarrenTheDegen

7 months

Hey @rightmove , How about giving us the average asking price including all of the reductions that flooded the market on Boxing Day?

Rightmove

@rightmove

7 months

The new year housing market is heating up 🏡 Average asking prices have seen the biggest seasonal Dec to Jan jump since 2020, rising by 1.3% to £359,748. But this is still lower than this time last year, which shows that many new sellers are being realistic about pricing.

9

14

8

10

91

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

The BBC with a banger of a headline to help spread housing market panic! Time for stubborn sellers to start waking up?

11

6

86

Darren | HonestMoney.co.uk

@DarrenTheDegen

6 months

Attention Sellers! Here are all of the reasons your house still isn't selling after being in the market for 9 months and changing agents 3 times. ✅ Price ✅ Price ✅ Price ✅ Price ✅ Price ✅ Price And finally... Price! Like and follow for more expert housing advice!

16

11

85

Darren | HonestMoney.co.uk

@DarrenTheDegen

3 years

@cryptomanran With half a million subscribers I probably could 😉

2

0

83

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Even the BBC are jumping on this one! When the national broadcaster is helping spread some fear into the housing market, you know things are about to get very messy.

13

6

84

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

UK economic data from the past week: ⚠️ Inflation still in double figures at 10.1% ⚠️ Unemployment UP ⚠️ Job vacancies DOWN ⚠️ Real world wages DOWN ⚠️ GDP 0% ⚠️ Swaps UP ⚠️ ONS house prices fall for 3rd consecutive month Meanwhile, house price crash deniers be like...

7

13

84

Darren | HonestMoney.co.uk

@DarrenTheDegen

8 months

The most important takeaway from the Bank of England holding interest rates at 5.25% is the vote itself. 3 voted for further hikes (6 voted to hold)! Throughout the year many "experts" were predicting the first cuts by the end of 2023 🤡 We still have a long way to go!

16

8

84

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

3

4

81

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Nationwide House Price Index: ⬇️ House prices down -5.3% year on year ⬇️ -0.8% month on month (August) ⬇️ Mortgaged home mover transactions down -33% vs 2019 ⬇️ FTB down 25% ⬇️ BTL down 30% Meanwhile, those with vested interests...

7

5

78

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Inflation remains high at 8.7% (vs 8.2% expected) Core inflation hits 31 year high at 6.8% Food inflation 19.1% BOE likely to raise rates to 4.75% in June (and possibly 5% in August) Swaps soar hitting new highs for 2023 - BAD news for mortgages! But asking prices are up 🤡

7

11

78

Darren | HonestMoney.co.uk

@DarrenTheDegen

10 months

"Average" wage growth overtakes inflation...

4

10

71

Darren | HonestMoney.co.uk

@DarrenTheDegen

11 months

Oil prices up 32% since the start of July and fast approaching $100 a barrel. GBP down 5% against the dollar during the same period. Nothing to see here folks, inflation is coming down 🤡

6

9

74

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

How NOT To Sell Your Home: 1) Sep'22 - New Listing at £400k (3 days after mini budget) 2) Jan'23 - Arrogantly Increase Price to £410k 3) Feb'23 - Reduce Price to £405k 4) Apr'23 - Reduce Price to £400k (original price) 5) May'23 - Reduce Price to £395k -1.25% in 8 months!

14

1

73

Darren | HonestMoney.co.uk

@DarrenTheDegen

6 months

If you are a seller and get "offended" by a below asking price offer, firstly, grow up! Secondly, all that is happening is you are "offended" about discovering the current market value of your house. Unless there are other higher offers, the low offer is the current value.

11

5

69

Darren | HonestMoney.co.uk

@DarrenTheDegen

7 months

Nobody trusts estates agents until they overvalue your house, then all of a sudden they are speaking gospel!

1

2

69

Darren | HonestMoney.co.uk

@DarrenTheDegen

3 years

A massive thank you to my first 1000 Twitter followers 🙏 If I ever make it big on Twitter I'll find a way to give back to the first 1000 OGs that like, retweet and comment below (so I know you were one of the first 1000) 👍 #cryptocurrency #crypto #NFT #NFTs

37

35

67

Darren | HonestMoney.co.uk

@DarrenTheDegen

11 months

If they hadn't tried to prepare us to expect a rise in inflation today, a tiny drop from 6.8% to 6.7% would have been reported as bad news. At this rate, it will only take another 47 months to hit the 2% target. Don't forget, that's 6.7% on top of the 9.9% from last August.

5

6

61

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

This is what I was talking about in last week's YouTube video (link in profile). Even if house prices barely move month on month, house prices were still going up this time last year so annual falls are only going to get worse. Plenty of panic generating headlines to come!

7

64

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

New build developers are clearly struggling when they start offering incentives like this... As @moving_charlie rightly pointed out in his recent video - this is an addordability crisis, stop the incentives and reduce the asking price so it's easier for buyers to get a mortgage

8

7

66

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

The only argument I ever hear from the house price crash denier brigade is "supply and demand" 🤡 Well, supply is soaring (see Rightmove listings below) and we already know demand is getting crushed (see recent mortgage approval figures). I guess that just leaves denial?

5

9

65

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

10,000 new listings in one week! 😱 The recent blanket negative coverage of the mortgage crisis is finally starting to filter through. Is this the first sign of panic from over leveraged homeowners?

7

11

64

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Remortgaging in 2023... Bank: Your 2% fixed rate mortgage is due to expire soon Borrower: Can I apply for the new 4% fixed rate mortgage please? Bank: Sorry, our new affordability criteria shows you can't afford 4%. Borrower: Oh! Bank: We'll put you on our 7% SVR instead.

18

4

63

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Further thoughts on the Halifax February house price figures... This is how the 2008/9 house price crash played out on a month by month basis. Notice how the "denial" bounce came just before the real meat of the drops. Is this where we currently are?

14

15

63

Darren | HonestMoney.co.uk

@DarrenTheDegen

11 months

Are wages REALLY back above inflation? Avg. weekly earnings of £617 are subject to: 🤑 20% Income Tax 🤑13.5% National Insurance That's a combined 33.5% tax on any pay rise! A 7.8% increase is more like 5.2% (or only 4.4% for higher rate payers) Inflation is still at 6.8% 🤷‍♂️

8

9

60

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

It's misleading to say housing is more affordable just because the average earnings multiplier has dropped from 7.3 to 6.7. Approximately 70% of transactions involve a mortgage and monthly payments are up 50%+ For the majority of people, housing has never been less affordable.

5

3

60

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Hey @rightmove ! Why do you continue to allow this sort of price manipulation on your platform? It would take a good dev about 5 minutes to code an algorithm that would detect/prevent this...

12

4

61

Darren | HonestMoney.co.uk

@DarrenTheDegen

3 years

Just finished listening to the audible version of "Trading Wisdom" by @BigCheds - even left a 5 star review! Definitely worth a listen if you are looking to get into trading, it gives you the right mindset to approach the various aspects of trading 🙏

Trading Wisdom

Check out this great listen on Audible.com. Hello! Thank you for listening to the audio version of my book. As soon as I published this book, there was a ton of demand for an Audible version, so it...

www.audible.co.uk

7

4

55

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Another textbook example of @rightmove price manipulation. Reduce the price from £700k to £685k (a 2% drop triggers property alert emails) and then put it back up a few days later. Oh, and if the property isn't selling let's just change the main photo. It's never the price...

15

5

57

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

A massive thank you to my #crypto & #NFT fam 🙏 ✅ 1,500 Twitter Followers ✅ 35,000 YouTube Subscribers To celebrate I'm giving away 2 x one month access passes to NFTNerds (worth $400 each!). I only have a small following so the odds are good! To enter Like & Retweet 👍

17

37

48

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

This is painfully accurate!

3

1

54

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

More misleading reporting from The Guardian ( @guardian ) Altogether now... "Asking prices ≠ Sold Prices"

10

2

54

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

@moving_charlie Thanks for the heads up @moving_charlie , I don't follow @russellquirk so I wasn't aware I was being misrepresented. It looks like he may not have watched the full video, or perhaps chose to misrepresent it to serve his opposing narrative.

3

50

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Halifax house prices down annually for the first time in 11 years after zero growth in "spring bounce" May. They join Nationwide who have already reported largest annual drop in 14 years. Only a matter of time until ONS lag catches up and all major HPI's will be negative YOY.

BuiltPlace

@BuiltPlace

1 year

Instant Info – Halifax UK House Price Index

1

6

14

3

6

45

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

We hit 50,000 subscribers over the weekend! A massive thank you to everyone that has supported and continues to support the channel 🙏

3

0

45

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Wages up 7.8%, the highest rate since comparable records began in 2001! On the face of it this is good news as wage growth is now almost level with inflation. However, the BOE will be concerned this is a sign of sticky core inflation so further rate hikes are likely 🫣

7

0

42

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

A quick summary of the latest GDP figures: ⬇️ Month on Month: -0.1% ⬇️ Year on Year: -0.4% ⬇️ Pre-Covid Comparison: -0.3% But we aren't in a recession 🤡 Also, don't forget that 10% of GDP is "imputed rent" i.e. made up expenditure.

6

5

43

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Good news everyone... 🤔 The UK government "only" borrowed £140 billion last year 😱 (Less than the forecasted £150 billion) That takes national debt up to £2.5 trillion which is almost 100% of GDP. This is fine..... 👀

5

7

44

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

I think it will be the annual price fall news stories that really spook buyers (and possibly sellers). At the very least it will stop estate agents from misleading new instructions that the housing market is fine because house prices are (were) up annually.

8

0

41

Darren | HonestMoney.co.uk

@DarrenTheDegen

3 years

Picked up a Basement Dweller NFT ( @BasementNFT ) this morning on @Opensea - the same artist as @CryptoDadsNFT and Discord seems quite active - worth a gamble!

3

10

38

Darren | HonestMoney.co.uk

@DarrenTheDegen

6 months

Following a 1.3% increase in January, Halifax house prices are now only £2,963 lower than the August 2022 peak. I'm not saying house prices haven't bounced slightly due to the recent fall in mortgage rates, but to report we are anywhere close to peak prices is laughable!

6

2

40

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Halifax house prices up 0.8% month on month in March (following a 1.8% increase in February)! Here is my data backed response based on my own secret methodology, seasonal adjustments and unclear sample size...

7

4

40

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Bank of England: "We are increasing interest rates by an additional 0.25% this month" Savings Accounts everywhere:

5

1

41

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

Rightmove: December average asking prices increased by £3,301! So either we're all wrong and the house price crash is canceled... Or, we have a load of overpriced new year listings from sellers who have been misled by estate agents ramping prices to secure new instructions.

13

2

41

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

This will keep the pressure on the BOE to hike interest rates again tomorrow.

2

0

39

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

Anyone else, or just me 😅 #inflation

5

1

39

Darren | HonestMoney.co.uk

@DarrenTheDegen

3 years

Nothing to worry about fam, it's just pulling back to trend support... and if that fails I'll just draw another one 😂 #BitcoinCrash @BigCheds

5

0

34

Darren | HonestMoney.co.uk

@DarrenTheDegen

3 years

For those that have been asking... Yup, I'm still mining! 👍 Hit like if you want me to share the stats/earnings so far 🤑 #CryptoMining #Mining

6

0

36

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Mainstream media for the past month... "Mortgage rates are coming down, sub 4% rates are here to stay... the housing market is saved!" Meanwhile, 5 year swap rates hit their highest levels since 2022...

11

7

34

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Nationwide house pieces down again for the 7 month in a row. Non seasonally adjusted that's a 6.1% drop from peak so far. With the long ONS lag, that pretty much guarantees at least another 6 months of negative official house price media coverage.

BuiltPlace

@BuiltPlace

1 year

Instant Info – Nationwide House Price Index

0

4

12

2

4

34

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Remember when we bailed out Lloyds to the tune of £20 billion during the global financial crisis? They've just reported quarterly profits of £2.3 billion thanks to a 20% increase in net interest income! (the difference between their high lending rates & pitiful savings rates)

4

1

34

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

UK house prices fall another 1.5% in December (following the 2.4% in November) - Halifax. That's a total reduction of over £10,000 off the average house price which now sits at £281,272. Just the beginning?

11

1

31

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

In the regions I monitor on Rightmove, I'm seeing a disproportionate number of "Chain Free" / "Immediate Vacant Possession" new listings. Most of these are at the lower end of the market (2/3 bed terraced/semis and apartments). Possibly BTL landlords looking for a way out?

5

2

29

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

It's a shame to see big housing developers like Barratt and Persimmon feeling the pinch. When you remove cheap debt, government schemes and BTL landlords buying off plan to rent at silly prices, things don't look so good. We'll soon find out what these sheds are really worth!

8

5

27

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

3

1

27

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

A few milestones hit this week: ✅ 40,000 YouTube Subscribers ✅ 2,000 Twitter Followers ✅ First Viral YouTube Video (50,000+ views in first 5 days) A massive thank you to everyone that engages with my content 🙏♥️

5

0

25

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Nationwide house prices up 0.5% month on month ⬆️ Possible dead cat bounce after 7 months of consecutive falls ⬇️ Annually down -2.7% (from -3.1%) ⬇️ With inflation still above 10%, real house prices (inflation adjusted) are down double digits already! ⬇️ Stay patient 🙏

6

3

25

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

An example of how mortgage hikes will crash the housing market Nationwide 5 Year Fix - £250k mortgage over 25 years - Start of year 1.49%, £999pm - Now 5.19%, £1489pm (£490pm increase) A 20% tax payer needs to earn £9k more per year to cover this (accounting for income tax/NI)

5

6

25

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

2 year swap rates continue to climb... Up from the recent low of 3.99% on 2nd Feb to 4.8% on 28th Feb. That's a 20% increase in one month! We're heading back into October 2022 territory 🫣

4

3

25

Darren | HonestMoney.co.uk

@DarrenTheDegen

3 years

Another #NFT ideal for a quick flip! Website: Twitter: @solmanians Discord: Supply: 6666 Chain: Solana Price: 0.99 Sol Launch: Today 5pm UTC/UK Hit like if you want more of these 👍 #SolanaNFTs #NFTCommunity

0

1

24

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

The warning signs continue to flash for the UK economy: ⚠️ Inflation unchanged at 8.5% ⚠️National debt exceeds 100% of GDP ⚠️Core inflation increases to 7.1% ⚠️Wages up 7.2% The last two will really spook the markets (again). Will the BOE react with a 0.50% hike tomorrow?

Yes

665

No

151

19

11

23

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

This could lead to some quite impressive asking price falls in the next couple of months as the current reality of the housing market hits home with these new sellers.

2

0

24

Darren | HonestMoney.co.uk

@DarrenTheDegen

7 months

@moving_charlie I viewed a property yesterday that had been on the market for 7 months without a reduction. When I suggested to the vendors negotiations may be necessary they looked at me like I'd just pissed in the kitchen sink. You are bang on point that overvaluing is crippling the market.

0

22

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Has anyone noticed a big increase in the number of new build properties being listed? These are fully finished as well 🫣 I think in some areas the days of having to buy off plan, exchange within 28 days and then find somewhere else to live for 18 months could be over 🙏

8

1

23

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Yesterday's poll results after 1,681 votes (thank you to everyone that voted). 55% of voters are now expecting house prices to fall over 20%! That is a big shift in sentiment from a similar poll at the end of last year when only 22% voted for 20%+. The narrative is shifting!

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

🏡 UK Housing Market Sentiment Poll 🏡 This week has felt like a major turning point as the reality that high mortgage rates are here to stay has started to sink in. Peak to trough, in nominal terms how far will house prices DROP during the current crash/correction/slide/blip?

19

14

20

6

1

21

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

🏡 UK Housing Market Sentiment Poll 🏡 This week has felt like a major turning point as the reality that high mortgage rates are here to stay has started to sink in. Peak to trough, in nominal terms how far will house prices DROP during the current crash/correction/slide/blip?

0-9%

237

10-19%

513

20-29%

443

30%+

488

19

14

20

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Lenders know that many mortgaged homeowners are holding off remortgaging (or are financially unable to remortgage) in the hope that interest rates come down next year. In the meantime, lenders are going to fleece them with 7%+ revert to rates (SVR - standard variable rate).

4

1

20

Darren | HonestMoney.co.uk

@DarrenTheDegen

3 years

Found this on my daily #NFT hunt, I'll be trying to nab one: Website: Twitter: @pixelbandsnft Supply: 4444 Chain: Solana Price: 0.5 Sol Launch: Tonight @ 7.45pm UTC/UK Hit like if you want me to share more of these 👍 #SolanaNFTs #NFTCommunity

1

0

21

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

Anyone else got an absolutely wrekt portfolio but the anarchist inside them is secretly enjoying watching this carnage unfold? #Cryptocrash

6

1

21

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

GDP up 0.3% ⬆️ Real wage growth down 4.3% ⬇️ I wonder which statistic the government and MSM will be focusing on as we head into the spring budget...

3

0

21

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

All this talk about UK pensions being at risk... Me:

2

1

21

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

Halifax month-on-month house prices sideways in January (0% change). Annual growth slows to 1.9%. I expect to see some "bottom is in" and "recovery has started" headlines over the next few days. Note these are seasonally adjusted & nothing goes up or down in a straight line!

9

0

19

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

You know you are getting old when museums start displaying games you used to play at school! 🫣 Any other 90’s kids remember POGS? I think I've still got a big box of them in the loft 😎

3

0

20

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

Rightmove 10 mile radius search for properties in my area either listed or reduced in the past 14 days. This is a rural location and over the past couple of years properties were selling within days. Out of 72 listings only 3 have gone Sold STC! So much for a January bounce.

2

0

20

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

How is the housing market looking in your area? Try this: 1) Search on Rightmove (last 14 days & remove auction/retirement/buying schemes) 3) Note the number of properties 4) Toggle the STC tickbox & search again 5) How does the new number compare? Reply with your results ⬇️

28

3

20

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

There seems to be a growing narrative that mortgage rates will drop to 4% & save the housing market. 4% only sounds good because we went to 6% first. Without Truss, we would still be approaching 4% (but from the other direction) & the narrative would be VERY different!

2

1

20

Darren | HonestMoney.co.uk

@DarrenTheDegen

1 year

Thanks Charlie, I appreciate the support 🙏 Be sure to check out Charlie's YouTube channel, some great coverage of the state of the housing market that cuts through all the "guff" 👌

Moving Home with Charlie

@moving_charlie

1 year

Great video from Darren @DarrenTheDegen laying out point by point the mounting major negative impact on prices. Buyers sellers and agents, ignore this at your peril. @LettingsChris have you seen this video? Does it change your mind at all?

8

3

39

2

1

19

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

Typical BTL chancer looking to sell their poorly maintained shed! Originally listed a few weeks ago at £190k with obvious damp/mould issues: Apparently painting over the mould adds £20k to the asking price. Now listed at £210k:

4

0

19

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

There seems to be a lot of smug boomers in the mainstream media almost gleeful about what is happening to crypto investors. Don't worry chaps, this crash is coming for your pension funds and real estate portfolios as well 😬

2

1

19

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

Nationwide house prices down 0.6% in January (5.6% from peak). But I think this is a bigger story... Mortgage values are down 15% from peak! Could this be an early indicator this crash is going to hit the higher valued (£400k+) properties the hardest? Source: @BuiltPlace

5

1

18

Darren | HonestMoney.co.uk

@DarrenTheDegen

2 years

Picked up an @NftFloppy for 0.1 Eth. A few influencers mentioned it as potentially one that is flying under the radar. Managed to grab one when gas was low (55 GWEI) and royalty is only 2.5% so downside risk is limited. I'm also watching another, 20 likes and I'll share 👍

0

18