UK Housing Market 2025 Outlook

The video discusses the resilience of the housing market in 2023, with prices increasing by 4% due to falling mortgage rates and earnings outpacing inflation. Expectations for 2024 include further rate cuts, but affordability remains a concern. First-time buyers face challenges with high rents and mortgage rates, along with upcoming stamp duty increases. The government aims to build 1.5 million homes in five years, but faces challenges with planning restrictions and labor capacity.

What factors contributed to the increase in prices this year?

What is the expected growth rate for next year according to the text?

What challenges do first-time buyers face in the current market?

What is the government's target for building homes in the next five years?

What historical context is provided regarding the challenges of meeting housing targets?