Merryn Talks Money How to Buy a House in the UK Right Now
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Apr 2, 2025 In this insightful discussion, Professor Yolande Barnes, a leading real estate expert from University College London, explores the current climate of the UK housing market. She shares her predictions on home prices and unveils effective strategies for first-time buyers. The conversation highlights troubling oversupply risks and stark regional disparities, as London struggles while northern markets thrive. Barnes advocates for innovative housing solutions, challenging the traditional build strategy and calling for a rethinking of how homes are addressed in the UK.
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End of Housing Escalator
- UK house price growth has been largely due to lower interest rates, not real value increases.
- This 'housing market escalator' effect has ended, and future value growth requires genuine improvements.
Predicted Housing Surplus
- An upcoming housing surplus is predicted due to rising death rates and falling household formation rates.
- This surplus will primarily affect the second-hand market, which dominates housing supply.
Buy Your Forever Home
- When buying, prioritize neighborhood and long-term livability over short-term market fluctuations.
- Buy your 'forever home' from the start, minimizing trading costs and focusing on location.