However, bear in mind that at some purpose the bubble may burst. Yes, folks have been saying that for years and it hasn't happened nonetheless. But it's turning into increasingly doubtless that the authorities will take steps to let some of the air out of the property market. Potential measures embrace revaluing property tax bands and punitive taxes on buy to let properties and properties left empty. A major increase in house building is unlikely to possess a lot of impact on house prices by itself, however when combined with the potential tax changes, we tend to might see prices reach a plateau and stay there for it slow.
Given all that, the best approach is to seek out an affordable house or flat in an space where you would like to measure for the foreseeable future, allowing for such things as local amenities, schools and also the journey to work. Assume conjointly of the advantages of paying a mortgage and gradually acquiring total possession (leasehold and freehold issues aside) of your home over twenty five or 30 years, compared with being beholden to a landlord who will raise the rent or evict you at a month's notice, and who will still own the roof over your head despite all the £000s you place in their pocket.