London flat values continue to fall. In addition to the macro challenges, no-one wants leasehold or shared ownership flats now tied to ground rent and service charges set by absentee landlords for the next 40 years
Leasehold is the biggest organised scam in England today.
Many of our supporters are already in negative equity.
This Labour government is playing with fire by putting the property cartels ahead of the people.
Londoners don’t earn enough to be able to a) rent in london and simultaneously b) save up for the insane levels you need for a deposit. Market finally starting to show this. Simple as that.
Youth may not be on the side of Baby Boomers but housing wealth is. @Savills found the over 60’s own £3.84tn worth of housing stock mortgage free. Having benefited from raising house prices when rates were cheap, the boomers paid off mortgages early enabling them to invest in second homes and buy-to-let property. Due to the rise in prices first time buyers now take longer to get on the ladder and are forced to take out longer terms, when they can, to be able to afford it. In time, wealth will be passed down but this won’t be felt till mid-life. One of the few benefits that comes with age, depending on your parent’s fortunes. For those without this prospect, the ladder will be a much harder climb @davidbyers26@thetimes https://t.co/mzrnu0FAGy
30% of the homes I buy aren’t on Rightmove or in estate agents windows. I hear about off-market opportunities from agents & home owners who would rather sell discreetly, without the fuss & publicity to serious, pre-qualified buyers.
London flats are falling out of fashion. They were struggling to sell last year and by January the warnings were everywhere and it's getting worse. https://t.co/itdciu05UC