UK Housing Market Showing Signs of Sustained Growth
There are signs everywhere. The current UK housing market is on fire and has all indications of staying in this mode for several months to come, according to many close to the market. One man in particular is especially bullish on the UK market and is making quite the bold statements to back up his strong opinions.
The chief executive of property developer Almacanter, Mike Hussey, commented on the current success of the housing market, saying: "We are in the middle of 15 years of property boom and no sign of bust. I have called the cycle well twice in the past and, although I may be wrong now, I believe that we are now in a 15-year period of steady growth in the property sector, which will run from 2010 to 2025. London, in particular, is entering an unprecedented boom period.”
To those looking to gain access to the property market, these types of statements are daunting and a bit discouraging. The beauty in high amounts of growth however, is that once access is obtained it is quite the position to be in.
The main reasons for expected years of growth and success are a favourable political environment and low interest rates. The combination is a catalyst for many buyers to benefit. This in turn makes it opportunistic for all lenders who are in the game of lending at the time.
Paul Welch of largemortgageloans.com commented on countries outside the UK showing interest in British property, saying: "We are seeing increased activity from internationals looking to invest, with a particular focus on China, seeing a 1,150% increase in Chinese visitors between February and March 2015. This is only set to continue as the economy stabilises and it's promising to see such a large surge of Americans being attracted to our real estate."