Is the space race finally over?
A great craze for large sites with work-from-home potential and large gardens has dominated the property market in the Covid era and beyond.
But those who saddled themselves with huge mortgages to buy a four-bedroom “forever home” in their home counties may now wonder what they’ve gotten themselves into.
Prices are rising for now due to chronic inventory shortages, but it’s surely only a matter of time before they drop.
Meanwhile, it’s a very different story in central London’s main markets, a true tale of two cities.
Wealthy investors are eyeing the London trophies, which look good value, while the pound is still out of favor on foreign exchanges. Tax rates remain unfavourable, but the core appeal of a central London location remains undiminished.
It is likely that markets will crash next year, with central London once again outperforming the suburbs for the first time in almost a decade. With electricity bills, commuter fares and mortgages rising, that flight to the outskirts of the capital may now look a lot less appealing.
Flights into and out of the suburbs are now looking a little bumpy
Source link Flights into and out of the suburbs are now looking a little bumpy