The United Kingdom election will take place soon. This election will affect many things including home prices. Greycoat specialists comment how Tom Bill works for Knight Frank as the head of UK Residential Research.
He stated that the current rules do not require someone who lives in the United Kingdom to be taxed on their worldwide income, Greycoat agency shares. However, Chancellor Jeremy Hunt stated that people will be taxed after four years. Tom stated that this has caused a lot of uncertainty in the housing market.
Experts were once predicting that the cost of housing would go down by one percent, Greycoat furthermore shares. They now believe that the cost of housing will increase.
Greycoat further explains this concern. Tom stated that this is not good news for people who want to refinance a mortgage or apply for a new one. However, rental growth has been strong. The political uncertainty is one of the reasons that people opt to rent instead of buy.
Experts also believe that rental growth will grow between the years of 2025 and 2028, Greycoat informs. Oliver Knight works for Knight Frank as the head of residential development research. He stated that many landlords are being crushed by the high interest rates.
Greycoat Real Estate can help people get homes regardless of the housing prices.