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There is a quiet unspoken problem sitting inside the Shepperton property market. In the last two years, only 52.71% of the homes that came on the market have ended up selling.
When Britain voted to leave the European Union on 23rd June 2016, many predicted the UK housing market was heading for trouble. Then Chancellor, George Osborne, warned house prices could fall by as much as 18%.
For much of the last two decades, bungalows have quietly slipped out of fashion. Overshadowed by those glossy new build developments, three storey townhouses and open plan ‘modern living’, they became seen by many as somewhere only your granny lives rather than an aspirational home move.
Since the mid 2000s, Britain has been told the same bad news housing stories. Young people have been locked out of homeownership. Deposits are impossible to save. Mortgage rules are too strict. And ‘Generation Rent’ is now permanent. According to the narrative by the newspapers, younger generation homeownership has collapsed.