UK Housing Crisis Affects Britain
First of all, there is no surprise that a UK housing crisis is affecting the country.
Over the years, there has been a huge influx of foreign property investors that have caused property prices to rise.
As a result, this has created an adverse affect on those looking to buy their first property.
Rising house prices over the years have caused first time buyers to find it difficult to afford a property on the market.
According to Filipa Sa (senior lecturer at King’s College London) conducted research concluded;
Foreign investment does not just raise the price of expensive homes, it has a “trickle-down” effect on the rest of the market.
For her research, Filipa Sa analysed Land Registry data.
She found that there was a rise of 1 per cent in the share of property sales to companies registered overseas.
This raised prices in the local area around Kings College by 2.1 per cent.
Filipa Sa’s research was noted by the Independent website.
UK Housing Crisis
The Government have come under pressure to tackle and resolve the UK housing crisis.
It seems like properties have been acquired through foreign shell companies.
As a result, something must be done to resolve this housing crisis in the UK.
Therefore, it is only right that the UK Government needs to intervene.
Affecting Rent Prices?
In addition to the housing crisis, property rental prices seem to continue to rise.
The rise of rent prices will have a knock-on effect on many people’s finances living in the UK.
There is another blog entry explaining this in a bit more detail named “Rent Prices Rising“.
Do you have any views on the UK housing crisis?
If you do, kindly leave your comments below.