This was shown on BBC TV this morning, so I found a link to a more detailed article.
It raises serious questions about housing policy and property investment strategies.
Is this proof that the Gvmt should NOT be encouraging people to get on the “housing ladder”?
If people believe they need to get on the housing ladder, do they need these facts and consequences explaining, and if so, who will do this? Therefore should this also be part of the school curriculum?
Should Gvmt be encouraging buy-to-let rather than trying to destroy it?
To what extent are banks still hiding property-related losses?
Without changes to demographics / demand / incomes, how will people be able to afford to move, or others be willing to invest in these areas?
Where sale prices are below build cost (NE, Scotland & Wales in particular), does it create an opportunity to make money? Will below-build cost property prices increase until they are above build cost?
Or, will build costs and labour costs have to fall?