There is no getting away from the fact that real estate experts claim property prices increase by a small percentage every single day at the moment.
There are lots of reasons for that, and we’re going to discuss some of the most significant ones in this short post.
Hopefully, the information will give you a better understanding of the situation as it stands right now.
More Millennials In the Market
Due to government-backed schemes that help young people to make their first home purchase, there are now more millennials on the housing ladder than at any point in the past.
Take a look at the graphic at the bottom of this page to learn more about the situation.
The Bubble is Expanding
Experts claim we are currently at the beginning of a new housing bubble that probably isn’t going to burst for the best couple of years.
That means people who pay over the odds for their home right now might end up regretting that move in the future.
People Have More Financial Confidence
While the credit crunch is over, it’s still sensible to take a conservative approach to finances. However, consumer spending confidence is reaching a new level, and that’s encouraging the average family to take more risks with their capital, thus driving property prices through the roof.
You should now have a better understanding of the house price situation in the UK today. If you plan to buy a new home this year, be sure to conduct a lot of research to ensure you don’t overspend or get a terrible deal.
Infographic title: How Millennials Change the Housing Markets Nationwide