RE: Back in11 Jun 2024 11:38
Eh, I don't think we'll ever see a real return to the gravy train of yesteryear, however in "real terms" we still have a massive shortage of available housing in the UK, with very little sign of that changing regardless of who gets the most crosses on July 4th.
I think a less excruciating interest rate will see a modest return to the market. Mortgages of sub 4%, approaching the 3% mark in due time. Wages have shot up, so I expect people to capitalise once the interest rates shift.
I somewhat agree about the "real" reduction of 30%, however I think we'll probably see that in an upward shift of wages rather than a fall, or even prolonged stagnation.