UK Property Prices - The Only Way Is Up
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Property prices in the UK will rise over the next five years. It has been reported that the average cost of a home in England is expected to hit the £300,000 mark.
The National Housing Federation (NHF) released figures to show that thousands of people could be pushed out of the UK property market. This will be due to house prices costing up to 11 times the the national UK average wage.
Those who are first time buyers or on low income could be prevented from buying a home alltogether. Experts claim that a crash in the market is still so unlikely over the upcoming years.
The NHF is urging the government to reduce the problem by continuing its plans to build three million reduced price homes over the next 13 years.
The document released called Home Truths, states: "Unless we do something radical about housing supply, our housing market will continue to be distorted and dysfunctional.
"A generation of would-be home owners will have their aspirations dashed or achieve them only at enormous financial and personal cost."
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