The increased demand for shelter and the untamed increase of population has a direct impact on the prices of the houses across the globe. Life has become quite demanding, and most average income earners are not in a position to put a house, especially those living in the urban setup. The option left is looking for a rental apartment that will shelter the family as they carry out their daily hustle activities. It is after this keen observation that the property website predicted that the house prices would most likely increase at an average rate of 2 percent in the year.
The increase in house prices across the European countries will vary from region to region. The prospective buyers will have a hard time, in which the two-thirds fall between eighteen to thirty-four years, a tentative age that finds it hard to climb the property ladder. The northern regions will most likely lead in price increment due to the buyers’ willingness and affordability, while it may take longer before applying in the southern part. London is likely to tie at the bottom, but there will be a tentative increase of one percent as the affordability of the buyers remains quite stretched.
The northern region will have a higher effect on the house price rise. However, in the UK, the prices of property vary significantly as it was observed in December 2019, where prices registered lowest in the northeastern part of England, in which case the buyers spend a staggering figure of $146,098, whereas the average prices in London fall at $600,145.
The chances are high that Britain would leave the EU in January 2020. This will significantly affect the house prices and the housing market at large. The win by the conservative majority is also predicted by the industry voices to have a direct impact on the house prices as well, and the rate will most likely increase. According to Miles Shipside, the majority government holds the greater certainty to affect the opportunity of the property trending in the active spring season.
The unforeseen impact of the Brexit will have some impact on property rates, and the first time buyers will be affected directly. Many buyers are on the verge of struggling to hit the necessary deposits, and some do not wish to opt for the new build homes that work out well through the Help to Buy initiative. The only option that would not limit many buyers would be limiting the rise in rents, and increasing the liquidity in the housing market, and also the transaction numbers used in this niche.
Precisely, making the dream of many people of owning roofs under their heads demands a close partnership that must be between the government and the private sectors. The younger generation is looking forward to a harder economic era, but the government decisions contribute significantly to this move.