It is no secret that property makes a brilliant investment as money is rarely lost when channeled towards bricks and mortar.
According to economic forecasts, the average UK house prices will leap by nearly £60,000 over the next 5 years, reaching £320,000 in 2020.
The Centre for Economics and Business Research has highlighted how these price increases are fueling ‘generation rent’ as it’s harder than it’s ever been to get onto the property ladder.
Price gaps between different property types are also widening, making it more difficult for buyers to upgrade to their second home.
This price gap is most prevalent in London, with the difference between purchasing a terraced house and a purpose-built flat reaching a £90,000 increase since 2011.
Concern has been raised that current house-building plans are not sufficient to meet rocketing demand. Luckily, the measures taken in the Housing and Planning Bill should ease the problem and we welcome the changes made.
Inspired Homes continue to work closely with the government to ensure the creation of affordable, yet beautiful apartments in Greater London.
You can find out more about our homes here – https://inspiredhomes.uk.com/our-homes/
Please call us on 020 7495 0523 to find out more.