Property experts with a passion for helping first-time buyers in the UK get on the ladder. Join our 100% FREE community today, and start your homeowner journey.linktr.ee/propertymetrix United KingdomJoined September 2024
Should #firsttime buyers rent or get on the property ladder as soon as possible? According to our modelling average the London PCM rent could be c. £2,277 in 2029; while the average UK PCM rent could be c. £1,237. Higher rents could mean lower disposable incomes, and savings.
So you can keep your £50k in the bank today and lose -£27.4k of purchasing power by 2050; or buy a house and increase your purchasing power by +£480.4k. What will you chose? #UKproperty#firsttimebuyers
And by 2050, your £50k in the bank will only be worth £22.7k in real terms a loss of 54.7% of purchasing power! Now, what do you think the average UK property would be worth in 2050? Around £758k, average price now is £266.7k.
Should #firstimebuyers buyers keep cash in the bank or buy property? Have you noticed your grocery shopping being a lot more expensive than it was in 2020!? This is due to inflation, the rise in prices and subsequent reduction in purchasing power.
Using the average Q3 2014 to Q3 2024 annual growth in property prices of 4.1%, we can see that UK property could be about to significantly increase in value. However, what if growth rates increase to say 7%? We might be at £500k for the average UK property much quicker.
The average UK home could cost over £508k by 2041, with the average London home expected to exceed £1m. first-time buyers shouldn't delay the decision to get on the market as homes could become unaffordable in the near future. #UKpropertymarket.
#firsttimebuyers Now might be the best time to buy property in the UK! Property MetriX research have modelled house prices into 2050 using average Q3 house prices in the UK. By 2030 the average UK house could cost £339k, while the average London home could cost £667k. #UKproperty
Join Our Discord Community, You’ll learn about the impact of inflation, money supply, and liquidity—how these forces affect property prices and what they mean for you as a first-time buyer.
discord.gg/cPjFSHXx3R
If you wait for interest rates to drop (from ~5% to 3.5-4%), you could end up in a seller's market, where prices might rise 20-30%. The higher purchase price could cancel out the benefits of lower rates, leaving you with less choice and a more expensive home. Buy NOW!
Ever heard the saying, "Time in the market is better than timing the market"? This applies to buying property too. Right now, we're in a buyer's market, with sellers competing to attract a small pool of buyers. This means first-time buyers have more choice,—like Black Friday
Attention! UK first-time buyers, if you haven't been able to qualify for a mortgage due to affordability (banks and lenders typically lend up to 4.5x your earnings), why not try @AskNationwide ? Their #helpinghand scheme is providing up to 6x income mortgages. 1/2
@Note_Buyer Correct. Could actually put first-time buyers at a disadvantage because when markets are booming, choice is reduced due to lots of competition. Always best to buy when in a 'buyers' market, regardless of rates being slightly higher.
With mortgage interest rates in the UK at sub 5% right now, there's a softening of demand in the housing market as first-time buyers wait for rates to fall. But, what if by the time rates went to say 3.5% etc. property prices increased by around 20%-30%?
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