Expecting a slump
It's refreshing to hear from some positive people about UK property!
With the average price of property at 6 times income, I think it is time for prices to fall. It's not affordable for first time buyers and it reduces the property options for lots of people wanting to move to a property with more space. A correction of about 30% would be fantastic news for millions of young people in the UK.
Inflation is a growing problem, affordability is a problem, the world economy is looking shaky. On the flipside, I believe immigration is the biggest factor fuelling property prices. The demand for property (to buy or rent) is supported by ever increasing immigration to the UK.
I predict a fall in the UK and have sold to rent. I am now looking for somewhere else to invest my savings.
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