When they try to talk down residential property prices remember this:
1) We are a tiny, overcrowded island: now the most dense in Europe.
2) Each year we build 135-150,000 houses when it is acknowledged we need 100,000 more than that.
3) The NIMBYs – ‘Not in my Backyard’ (they tend to be, white, middle- class, persuasive and influential) stopping almost all development in their area being built
4) We lack the skilled labour to build a lot more.
5) Our population keeps growing and we can’t seem to stop it. (Whether a good or a bad thing)
So there might be a slowdown in property prices but only temporarily because of those five reasons that for the fore able future, underpin our house prices.
Chris Ingram 05/08/2016