Posted by: katalysis
The Government is currently on course to fail to meet its target to build 1m homes by 2020, minister Gavin Barwell has admitted, and is building about 170,000 homes year, but added: “We clearly need to do better. … We inherited a position in 2010 where house-building rates in this country were at their lowest since the 1920s”.
Shadow secretary of state for housing John Healey was scathing. - “In the last six years we’ve built fewer homes in this country than under any prime minister since the 1920s … Since 2010 the number of people who are homeless has doubled and the number of home owners has fallen by 200,000. The country deserves a proper plan for fixing the crisis, not more hot air.”
In other news - The RICS have described the property drought as “dire”. The RICS report covers October and was compiled well before the results of the USA election were known. It said house hunters are returning to the market following the June Brexit referendum. Home buyer demand has increased for the second consecutive month and across the country, more of its agency members reported a rise in home buyer interest. However, they also reported that the number of properties on the market dropped, continuing a two-year trend.
So a great time to sell it seems with prices high and supply/demand generally at opposite ends of the spectrum. As lack of supply continues to drive prices higher which in turn creates even less supply and so on and so on…. Will the bubble ever pop? Maybe it’s time to downsize or cash in on one’s rental property portfolio? Maybe.
Before putting your home on the market be sure you are making an informed choice by arranging a FREE MARKETING APPRAISAL.