I recently read a thought-provoking article in the Guardian about the difficult side to rising house prices. Early in their careers, professionals and – well, many – people in London are looking at house prices beyond their reach. Some feel it is now impossible to ever own a home.
The article refers to another which talks about the average house prices from several well-known estate agencies. Savilles, which specialises in the posher-end of houses, reckons its average house is selling for £3.2million!
Cambridge might not be the cheapest place in the UK to find a house, but we’re not staring averages quite that high, at least not from most of our estate agents.
The sadder side of high house prices is that many people struggle to get into the growing investment market. But, as the article brings home, this isn’t just about investing and returning profits. Alongside being the biggest spending decision most people make, houses are where we live, and come to mean more to us than an item in a portfolio.
Here at LimeTree, we work with a range of potential home owners, and can offer specialist advice for first-time buyers. We are more than happy to talk with you about your situation, and we’ll do our best to help you find the right mortgage and your first home.