Data reveals 4 in 10 Brits think properties are overpriced

Freehold Sale have released data from a recent survey revealing that 48% of Brits foresee house prices continuing to rise by 10% in the next year. This followed on from 4 in 10 Brits thinking that properties are overpriced in their area. On average out of the 500 people surveyed 41% of respondents feel properties to be costly, with London ranking highest with 57%. Looking at other data, it shows that 45% were aged 55 and over. The survey asked what factors people think have contributed to the predicted increase, with 43% thinking the EU referendum will have an affect on UK property over the next year.

Nearly one third of Brits have revealed that when approaching their next property purchase, they would be more interested in buying a new build. Showing that 39% of 25 to 34 year olds wanting to live in a new home. 19% of people surveyed said they will rely on government schemes such has Help to Buy and Right to Buy their new home.

You can read the full article published in Property Reporter

Image Credit Carlos Muza on Unsplash

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