UK: Housing market is at its most unequal in a decade (Sky News, 12 October 2020)

  • Housing market is at its most unequal in a decade, experts say

  • By Sky News, published on 12 October 2020

  • Summary:

    • Despite the UK entering a recession, the market is booming, with house prices rising 5% on an annual basis in September.

    • However, considering the state of the economy, lenders are anxious and many aren't granting mortgages to those with smaller deposits.

    • "These two concurrent trends mean that despite the boom, there's increasing inequality in housing, with the less well off and many first time buyers even further away from entering the market."

    • This is leaving a lot of younger, first-buyers excluded from the market. The experts say that the housing market is the most unequal it's been in a decade.

  • Keywords: housing market, right to housing, mortgage, housing prices, inequality, lenders, first-time buyers, inequality

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