Hello all
I've namechanged & aplogies in advance as this is London/SE centric.
So as a young inexperienced property novice can someone try to explain to me how the market will work in the future?
We are looking at flats priced at 500k & would plan to sell in 3-5 yrs to upsize. Where I'm confused is historically when its time to sell our budget would be determined through a combination of house price growth (say 200k), paying off some mortgage & wage increases so the next property we would buy would be in the region of 750-800k. This would ideally afford us a house if we moved out a bit.
However I don't see now see how our 500k flat is going to increase by much in the future, so how will we be able to afford a house? Plus there are very few areas where 750k will get you a decent house in a good catchment area.
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How will the future property market work?
57 replies
confuseddotcom2 · 02/11/2017 20:28
OP posts:
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