Houses predicted to sell in 2023 at the lowest rate since 2012.

In the face of rising interest rates and a challenging economic climate, the British housing market is experiencing a significant downturn. Property values have declined for a fourth consecutive month in July, marking the sharpest fall in 14 years. House price sales are currently down by a fifth compared to this time last year, and they are on track to reach their lowest level since 2012.

The affordability of mortgages is being cited as the main factor for this decline. The Bank of England's recent decision to increase interest rates has pushed homeownership to unattainable levels for many UK home buyers. The traditional mortgage model is considered outdated and unaffordable for a large portion of the population.

However, Shahram Shaida, the CEO and founder of Allbricks, believes his company's innovative approach could hold the key to assisting with Britain's housing market woes. Allbricks has removed the mortgage model and instead created a crowdfunding-type approach for home buyers. This novel approach is considered better than a traditional mortgage for home buyers and even outperforms buy-to-let for investors.

Allbricks has unitized residential property to demonstrate wealth creation through home ownership. By offering unique investment opportunities for institutional investors, Allbricks aims to revolutionise the housing market and provide a more accessible and affordable solution for home buyers.

As millions of homeowners face a potential £500-a-month increase in their mortgage repayments at the end of 2023, the need for a better solution becomes increasingly urgent. With the UK inflation rate drastically dropping to 6.8%, there is hope that the housing market may begin to stabilise. However, with the cost-of-living and self-employment on the rise, Shahram Shaida believes a more comprehensive solution is needed to ensure the long-term sustainability of the British housing market.

The company founded by Shahram Shaida that offers this new approach is called Kwoff. Kwoff, a fresh entrant in the market, aims to support the British housing market by providing an alternative to the traditional mortgage model. As the housing market continues to face challenges, Kwoff's innovative approach could prove to be a game-changer.