We need to stop pretending that rising house prices are good news for homeowners

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We need to stop pretending that rising house prices are good news for homeowners
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House prices are set to increase nearly 18 per cent by 2028. You won't see many first-time buyers cracking the champagne open in their tiny kitchens

House prices are set to increase nearly 18 per cent by 2028. You won’t see many first-time buyers cracking the champagne open in their tiny kitchensPrices will then increase to £300,108 in 2028 – an increase of £45,521 or 17.9 per cent increase from average prices today. This, according to some commentators and headlines at least – is “good news” for

You plan to stay there for four or five years, and then you want to try and upgrade and start a family. In that five-year period, your flat goes up in price by 17.9 per cent and you’re now sat on a £235,800 asset. You’ve made a tidy profit of £35,000.

Even for those with big homes looking to downsize, any gains could well be negated if they have children, and need to help them on to the property ladder in the future. The sober truth is that in Britain, we speak about houses as an investment. When you’re in this mindset, growth is good and falls are bad.

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