It’s fine for those of us fortunate to be property owners – as an example in my area detached bungalows that were for sale at £250,000 one to two years ago are now valued nearer £350,000. However, these price levels are of course very low compared to London. Through a lack of coherent government regulation against property investors/speculators, resulting in an artificial escalation of property values nationally, we now face a situation where buying a small family property has become a luxury in many areas.
Not surprisingly, rental prices have also increased sharply as much of the rented sector is privately managed rather than administered by the local council at more affordable rates.
Building more and more unsightly new flats and houses is not the answer – perhaps our future King can provide more of his input in this area?
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