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Property Entrepreneur: "property Price Bubble Will Burst".

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Bad news for buyers as house prices rocket
By Saxon East
House prices in Wandsworth have shot up by more than 21 per cent in the last year.
Houseowners across Wandsworth could be in for another golden era of rising property prices after an astonishing boom in the last month.
Despite a slow start to the summer, house prices in Wandsworth rose 5.2 per cent in the past month the second fastest in London.
And latest figures from property website rightmove.co.uk reveal a stunning 21.2 per cent rise in Wandsworth over the last year, from £329,177 to £398,714.
However, the rise represents bad news for first-time buyers struggling to get a foot on the property ladder.
Rightmove's commercial director, Miles Shipside, said: "The number of enquires for London properties keeps increasing.
However, not all people believe the property rises will last. Business administrator and property entrepreneur Ryan Leighton, 30, from Cotton Row, Battersea, said: "Set against a backdrop of higher oil and commodity prices together with worldwide rises in interest rates, the property price bubble will eventually burst.
"It is now cheaper to rent in many parts of London and when people realise property prices are no longer moving upwards and other investments produce a better return, the irrational investment in property will stop and prices will find a lower level in line with long term averages against wages and affordability."

Not everyone believes the hype anymore it seems. Investors especially.

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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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