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Susan Grant

High House Prices Are More Sustainable Than They Were In The Past

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Fortunately, the boom and bust of the 1970s, 1980s and early 1990s have been succeeded by a more stable housing market in which high house prices are more sustainable than they were in the past. The economy stability, benign inflation environment, historically low interest rates and record number of people in work all means that demand for houses will remain strong and that high house prices are something that first time buyers will just need to come to terms with.

During the past eight years home owners have seen spectacular increases in the value of their properties and the increases in property prices are set to continue in the run up to Britains entry into the Euro that is expected to occur in two years time.

Given that house prices are currently stabilising and are flattening out this means that now is the best possible time for first time buyers to get a foot onto the property ladder before property prices start to rise again in anticipation of Britain's entry into the Euro.

The lack of first time buyers in the property market is attributed to the high prices for property but first time buyers will just have to come to terms with the fact that high house prices are as a result of the long period of economic stability and low interest rates and first time buyers will just have yet to get used to the fact that they will have to pay the high house prices if they are ever to own a home of their own.

Many first time buyers have been priced out of the areas they most want to live in but this is simply the way things are and there is no point in first time buyers whinging and moaning that they cannot afford a place in the location of their choice and they will just have to accept reality and find a property in a location that they can afford. There are still some areas that are relatively cheap that will experience steep rises in house prices and in particular there are areas in West Yorkshire and Scotland that will see house prices double in the next five years.

The procrastination and dithering of first time buyers will only mean that they will only have to pay more for a house if they continue to wait as house prices continue to rise over the next five years.

If first time buyers want to be able to get a foot onto the property ladder then now is the best time to buy before prices start rising again. If first time buyers don't act quickly and take the opportunity to buy a property when house prices are flat then they will may never get an opportunity to get a foot onto the property ladder in their lifetime.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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