House prices will fall a record-breaking 35% peak to trough, over however long that takes, likely two-three years, property commentator Charlie Lamdin has warned.
The claim from Lamdin, founder of Best Agent and presenter of the Moving Home with Charlie YouTube and TikTok channels, will frighten many homeowners who face seeing the value of their property plunge. It will also annoy many estate agents.
Those tasked with selling property may also be irritated by Lamdin’s recent piece published in the Sunday Times urging people to hold off from buying property, unless purchasing at a hefty discount.
Interviewer Chris Watkin describes Lamdin as “a marmite kind of guy in estate agency circles”, but is he actually an industry maverick or a clickbait doom-monger?
Watch yourself and make your own decision
Please note: When EYE first published the piece this morning, we mistakenly suggested that Charlie Lamdin predicted that average house prices would drop 35% this year, but actually his projection is ‘peak to trough’.
See:
EYE, read the last bit – you should perhaps do a story on a real problem, although I get this is click bait.
————————————-
Charlie,
My properties remain on your site despite me asking them to be removed, last polite request.
Missing marketing information STILL.
Missing required Information STILL.
Incorrect Information STILL.
Old Information STILL.
Please can you remove my stock.
——————————-
EYE, how about do a story on the sorry HIS website, which skim properties, trying to hijack leads but whilst doing so (and he confesses to be a “champion for buyers) actually gets the property information so wrong. Websites like his, are the very reason the industry is frowned upon and why certain information must be shown on a property advert. He fails in most areas… thus NOT helping the public.
“Always look when you cross the road” is the only sound advice “a Charlie” has ever given.
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Click bait journalism as he’s clearly less than a less than average agent, odd you should name your company “best agent” when you were almost struck off.
find-and-update.company-information.service.gov.uk/company/10635754/filing-history
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Nearly half-a-million quid in the red… Clearly someone who really knows what they’re doing.
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Mr Many Units, looking past the financial position of Mr Lamdin’s company … what are your thoughts on Charlie’s mission to get higher fees for smaller independent estate agents by battling the large corporates who use their position (in his opinion) unfairly to smaller independent agents?
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When this “35% fall” doesn’t materialise will you please stop giving column inches to attention seekers like Charlie Lamdin, PIE?
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Looking past his clickbait headlines, NW agent, have you listened to what Charlie has to say about attracting higher estate agency fee paying house sellers to independent agents … as set out in the video?
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Chris – So, Charlie speaks a lot of sense, but for me, it is tough to take him serious when his own website goes against the “easy to preach” comments about marketing and quality.
I was an open book for Charlie, but such mixed messages from him.
I want to advertise your houses Ric, drive your fees up and help you – oh and I will consistently promote 35% off and not display your property correctly.
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I thought this guys was called Charlie Wright? What’s with the name change?
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Who??? Shocking predicting 35% falls in house prices…. That’s definitely clickbait 🙂
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Whilst not mentioned in this video on why he thinks there will be a 35% drop in between last Autumn and at the next few years, have you seen his videos on why he believes they will rip and what would you say to his arguments behind that ides ‘forward thinker’?
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Christopher it is Sam Samuel here in aid of transparency. Answer is no and surprised you would give a maverick like this chap a platform to air such rubbish views.
Maybe I should find and watch for comedy value.
One positive… He attracts a lot of publicity and no such thing as good or bad it’s all good! You love it.
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Hi Samuel – the reason I interviewed Charlie – a number of reasons my friend …
One, because whilst I dont agree with is rhetoric about the property market and how he courts controversy, nobody has actually challenged him in an in-depth style (and if you watch the video/listen to the podcast) … I do give Charlie a grilling.
Secondly, leaving Charlies past behind and his doom monger videos .. the best Agent project is something I like.. looking at the inbalance of power of the corporate estate agents vs small independent estate agents and his plans to sort it.
I obviously cant force you to watch the video – yet I do hope you will invest some time – especially on the Best Agent project
Thank you for your thoughts
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Chris… “Would a Best Agent” display incorrect property information, missing material information and out of date property info.
I am curious as I agree the concept is potentially excellent, but it seems strange a business model based on “Best Agent” actually promotes property incorrectly (let alone without permission).
The without permission some might put up with, if the information was not wrong and dare I add, he did not omit the Estate Agency info.
Do you agree, before trying to sort someone else’s business out, you should tidy your own up first?
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HAHAHAHAHAHAHAHA
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@Chris Watkin. You address the so called “Charlie’s mission to get higher fees for smaller independent estate agents” but what do you make of him skimming OUR properties and listing them unsolicited on his website. We have not agreed to this and yet he uses our properties to promote his business despite REPEATEDLY being asked for them to be removed. We all want to level the playing field but don’t defend grifters that use our properties without permission. Thoughts?
P.S. I recommend all agents reading this goes to his website, it’s not hard to google Best Agent and I bet you didn’t know he was advertising your properties either!
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Thank you for your reply MIB…
I am defending the concept of Charlies mission to improve independent estate agency …
…yet not necessarily his marketing and sales techniques to do it.
I did post a few days before the interview with Charlie that I was interviewing him.. and nobody mentioned the scrapping (so didn’t ask him)
I know whilst no legislation bans all scraping, unauthorised use of publicly available web content can amount to a breach of contract, infringement of intellectual property rights, and a criminal offence in some circumstances. I obviously cant comment on the matter between the pair of you …
I hope you get a chance to watch the whole video – as I was tough on Charlie throughout and tried to be balanced throughout. If you get the chance, watch (and putting aside the scrapping issue – which I know) – your thoughts on the overall concept
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Where I am he has properties added that were removed from the market circa six months ago.
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I don’t care what he says about wanting to change estate agency or about getting higher fees. We can get the same message from people who don’t talk absolute, negative, scaremongering, ill-informed s.h.i.t.e all the time.
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I did ask him yesterday on Twitter what qualifications he had to back up his diatribe, no answer from him yet. He is a ‘shock jock’ with many failed businesses behind him and it seems to me the only qualification he has is arrogance of the highest order.
For decades property doom-mongers have come and gone and they always attract followers who are hoping and praying that property values dive so they themselves can get on the ladder!
As Martin Lewis and his experts said last night on TV, if you are going to live in a home for the next 7-10 years then just get on with it and buy what you can afford. The longer you wait the more expensive it will be.
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As sound and sensible a comment as I’ve seen on here. I couldn’t agree more. I simply cannot fathom how or why this man is regarded as a ‘industry commentator’.
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I am yet to be convinced about this guy’s credentials. He comments so forcefully about the market, despite having little-to-no exposure to it or experience of it. He clearly has an agenda but I can’t work it out. Playing poacher and gamekeeper so overtly surely can’t last?!
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I don’t believe it. No one predicts such a big price drop(35% ha ha). Theoretically to build a house and the value of land and other utilities etc. etc. won’t cost as todays price. But no one would be selling a property below the price they have purchased. So very few properties would be in the market if the price decreases significantly. When the number of properties are less, when demand is same, price may increase. So I don’t think 35% price drop is possible. I expect there would be price drop, but not up to 35%.
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Halifax HPI just released show:
Prices peaked in June 22 @ £293,586 – and was a 12.5% annual increase.
December 22 average sale price was £281,713 at a 2.1% annual increase.
January 23 average sale price was £281,684 at a 1.9% annual increase.
So, average prices have already fallen £11,902 from June 22 peak, and have now levelled off.
HSBC just offered 3.99% fixed rate mortgage on £999 fee.
The market correction has ALREADY taken place, and the market is great.
I am not a high volume agent, but agreed 5 sales in Jan and now have no stock. Some crashing market that!
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Good to hear John Murray. I don’t know where your market is, but this regional variation is so important and almost always missed by ‘commentators/analysts’.
What use (to most buyers/sellers) are broad-brushed statistics that comment on national performance? Most buyers and sellers move in a particular town/village/region and really only care about how that area is behaving – much like agents I guess. We had a record January both in terms of exchanged income, new sales agreed (units and fee income) and net sales. Were I to post a positive message in a public forum it would likely to attacked as nonsense or ‘optimism-bias’, despite it being objective fact. Markets vary hugely by location and, in reality, ‘averages’ bear almost no relation to the experiences of people buying or selling.
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100% – I am personally based in Ashford, Kent.
Dare I say I made a 1min 30 sec vid to my network on what the market is actually doing, using the Halifax HPI as evidence, as they are they biggest mortgage lender in the UK. It is here: https://vimeo.com/796937442
I think this blows a hole in the main crux of the argument of a 35% fall in house prices.
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I just wanted to comment on this interview, without going into the merits of what is being discussed.
I wanted to complement both the interviewer and the interviewee for their dignified engagement throughout.
Chris has excelled as an interviewer imho. He asked robust and challenging questions in a respectful manner.
Charlie responded in a dignified manner without taking offence or trying the skew the narrative to make himself look like the victim of unreasonable questioning.
I think our sector hugely benefits from such challenging and robust debate as it really helps tease out the issues and helps create transparency over people’s positions and agendas. They are great learning resources as the comments generate additional insights and understanding of what is being discussed. It helps people to form their own opinion on an issue. Anything that faciliates learning, awareness, or understanding is positive in my book!
I hope Chris does more of these types of interviews especially with controversial, or divisive, or outspoken individuals as, until someone does this, these people can control the on-line narrative.
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VW – lovely hearing from you.
Totally agree re: the Chris Watkins interviews and the way he offers people places on ‘the sofa’ to air views.
Very important though not to promulgate ‘fake news’ in an industry full of commentators, who know little about what they actually comment on.
Hope Brian Holt and the Coventry crew are doing well!!!
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I would suggest caution to anyone making financial predictions without looking at some underlying issues first.
The biggest issue of all is inflation.
Our current bout of inflation is primarily due to the government printing money via Quantitative Easing brought about by the credit crunch. It looks like it’s food and energy and Ukraine and other things, and that’s true. But in the background there is a huge amount of extra money that has been magically created by the BoE and taken off-shore by mega wealthy corporations and individuals.
It would appear that it is now time to correct the amount of money flowing through the system.
There are two ways of doing this:
1) Forcing the corporations/ mega wealthy to give back all the money that they have carefully (and entirely legally) siphoned out of the system, or
2) Go for a protracted period of even more austerity.
As would appear to be “par for the course” our current government would appear to have decided that Option 2 is the most appropriate.
For the life of me I can’t think why Option 1 isn’t high on the agenda. Oh, wait! Yes I can. It’s because the current lot in power all appear to be included within the Siphon Brigade!
Anyway, political diatribe aside, I was an agent from 1991 to 2016. I’m a surveyor now.
The House Price Index for England only fell by 18.2% between September 2007 and March 2009. RPI over that time increased by 1.6%.
In certain areas, prices dropped more, in others, less. Averages are always dangerous.
With inflation as high as it is, a downturn of say 20% over 18 months, amplified by 18 months of an average inflation of 10% actually translates to a real world drop in the value of normal residential property of 32% compared to the cost of average family shop.
That calculation does rather require that salaries remain stagnant.
It’s quite incredible that the government is fighting so hard to keep public sector pay down.
Oh, hold on! No it’s not, because it actually helps make all those people who are already rich, even richer still.
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Ive built the best systems but nobody uses them because I am a pr!ck is a pretty interesting take.
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He’ll probably end up harming potential housebuyers, because they’ll just be sitting on their hands waiting for this mythical 35% drop, and by the time they realise for themselves it hasn’t or won’t happen, they’ll be priced out even further due to throwing away money on rent while they were waiting.
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