UK property market ‘quieter than it was’

[MongiIG]

The squeeze on household budgets is causing a slowdown to the UK property market, but, according to Jeremy Leaf FRICS, the underlying ‘resilience to the market still seems to be there. As founder of Jeremy Leaf & Co estate agents, and also as former residential chairman of the RICS, Leaf remains confident that the market is holding up, for the time being, albeit at a slower rate.
 
The issues that have arisen are around the rise in base rates and affordability. Surveyors are re-valuing down some properties making it difficult for some to buy, but at the same time it’s clear that the mortgage market is buoyant albeit causing a bit of a bottleneck, currently.

 

 

 

[skyreach]

PROPETY PRICES

Go back 50-70 years the house prices were far more stable and if they rose then it was very slow, with a small rise. Houses were treated as places you live and not treated as a capital investment . Europe was even more stable for house prices.

Property companies and estate agents are the vested interests who encouraged the change in attitudes and of course the greed factor follows. Even governments has got in on the act by charging various taxes. Then again governments cannot think outside the box and create income streams from other means / sources other then taxes. That is the bigger problem for all, otherwise taxes could be reduced or eliminated on houses.

Renting investment is different. and expected.