TravelDream
Member
- Joined
- 7 Aug 2016
- Messages
- 675
I am sure I am not the only one to notice, but house prices in my local area have gone a little crazy in the last year or so.
It's not just prices too. Anything decent is being snapped up at a moment's notice. Local agents have stopped organising viewings when customers want and now just book people into a set block. Say viewings on 123 ABC Street are on Monday from 10 until 11.30. They are having no issues getting people to make offers with that.
UK prices are up 13.2%, but of course there are big regional variations.
''Wales showed the biggest jump in house prices of the four countries of the UK, registering property inflation of 16.7% in the past year. The price of a home rose by 13.3% in England, 12% in Scotland and 9% in NI.
The English region with the hottest property market in the past year has been the north-west, where prices were up by 18.6%. London, the part of the UK hardest hit by the repeated coronavirus lockdowns of the economy, recorded the smallest annual increase, 6.3%.''
The question is, what can be done about it?
Clearly massive growth year on year when wages remain relatively flat is just not sustainable. First time buyers will find it increasingly difficult to get on the property market.
I live in Wales and 16.7% is very believable. In fact, I think my local area may be even higher than that.
It's not just prices too. Anything decent is being snapped up at a moment's notice. Local agents have stopped organising viewings when customers want and now just book people into a set block. Say viewings on 123 ABC Street are on Monday from 10 until 11.30. They are having no issues getting people to make offers with that.
UK prices are up 13.2%, but of course there are big regional variations.
''Wales showed the biggest jump in house prices of the four countries of the UK, registering property inflation of 16.7% in the past year. The price of a home rose by 13.3% in England, 12% in Scotland and 9% in NI.
The English region with the hottest property market in the past year has been the north-west, where prices were up by 18.6%. London, the part of the UK hardest hit by the repeated coronavirus lockdowns of the economy, recorded the smallest annual increase, 6.3%.''
UK house prices rise at fastest rate since 2004
Rush to beat stamp duty holiday deadline in England and Northern Ireland pushes up property inflation
www.theguardian.com
The question is, what can be done about it?
Clearly massive growth year on year when wages remain relatively flat is just not sustainable. First time buyers will find it increasingly difficult to get on the property market.
I live in Wales and 16.7% is very believable. In fact, I think my local area may be even higher than that.