Homeowners across Nottinghamshire could see house prices plummet in the next few months as housing experts predict that the property market bubble is about to burst. It comes as a recession threatens the UK along with the rising cost of living and soaring mortgage rates.
Housing experts at PropCast have created a 'weather report' for the UK which shows where buyer demand has risen or fallen between June and September. They analysed data to create a list of the worst-hit areas for decreasing house demand and prices which included Nottingham.
The temperature is measured on a degree scale based on demand. If an area scores over 34 degrees then it is a hot market which could mean sellers can sell relatively quickly. However, below that indicates a colder market where sellers could struggle to get the property sold.
