Since the UK first came out of lockdown in 2020, there has been strong demand for property. Prices are only continuing to rise with an annual increase exceeding 10% and the average UK home price reaching over £28,000. Over the same time period, the ordinary UK worker would have earned about the same amount.
At first glance, this may sound good for investors and landlords but the reality of the situation still relies on the consumers and if they’ll be able to keep up with these fast-growing prices and wages. The current house boom could slow the property market down.
What are your thoughts about the UK house boom? UK Property Tastic is happy to help you navigate these concerns.
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