Readers of previous blogs will know that I am concerned regarding the lack of properties coming on to the market which is causing a sharp increase in house prices. With this in mind I was interested to see a headline from the Centre for Economics & Business Research advising that their prediction for house price rises, throughout the whole of the UK, has gone from 1.5% to 4.7% for 2015. It is stressing that a chronic lack of stock has changed its views and predictions regarding the house price rises.
I am concerned that another unsustainable housing bubble is being created especially due to the lack of assistance for first time buyers and the support for small to medium developers. The government needs to urgently tackle this problem.
Partner – Head of Property