Newboomwill benefit lucky few
A REPORT released by the Bank of England predicts a property price boom fuelled by an ageing UK population and a rise in immigration.
Samantha Baden, property analyst at Findaproperty.com, says: “The predicted property market boom will reflect hotspots and coldspots. Areas like Kensington and Chelsea will undoubtedly prosper but this level of growth is unique to these sought-after locations.
“But the benefits of this boom, should it occur, will not be shared by all. First-time buyers are still in an extremely tough position and the forecast price rally is likely to strengthen the barriers to entry for these already struggling wannabe homeowners.”