When the UK experienced a significant property market boom in the years leading up to the global financial crisis, prospective home buyers were exposed to increased coverage of the market in the media, sometimes portraying it as a lucrative investment and a path to wealth. Before 2008, as real estate expert Nick Millican shares, there was a rise of celebrity property developers and estate agents, some of whom became media personalities.
In other words, the British property market was becoming sensationalized like its American counterpart. These days, the situation is different for prospective buyers. According to a report recently published by the UK Homeowners Alliance, 52 per cent of British renters do not believe they will ever be able to afford a flat or a house. And this is when real estate agent Nick Millican comes in to better help and guide his clients.
According to real estate developer and asset manager Nick Millican, who manages an investment fund focused on the London property market. This is a stark statistic Economic Realities Are Eroding the Dream of British Homeownership. When the UK experienced a significant property market boom in the years leading up to the global financial crisis.
Thus, prospective home buyers were exposed to increased coverage of the market in the media, sometimes portraying it as a lucrative investment and a path to wealth. Before 2008, there was a rise of celebrity property developers and estate agents, some of whom became media personalities. In other words, Nick Millican shares, the British property market was becoming sensationalized like its American counterpart.
These days, the situation is different for prospective buyers. According to a report recently published by the UK Homeowners Alliance, 52 per cent of British renters do not believe they will ever be able to afford a flat or a house. There’s a combination of stagnant wages and ever-increasing house prices. As real estate agent Nick Millican finally states, this is a situation that calls on the Bank of England to implement market-friendly policies.