With soaring costs for home owners in terms of energy prices, inflation and with added interest rate increases, it’s hardly surprising the UK Property sector is in some turmoil.
With these rising costs we are seeing a shift in demand from buying to renting. Whilst this means there will be further pressure on monthly rent prices, the risk for first time buyers stepping in to the housing market, for many, seems just too high to take that leap. Added to the high costs there is an expectation that house prices will fall, potentially leaving new buyers in a negative equity situation, increasing the risks still further.