Pessimists would have you believe that property in the UK is doomed, but this ignores the fact that housing is not stocks and shares. Owning a home is an emotional desire, a must-have aspiration for most Britons, and the demand for property in Britain remains high. Prices may have fallen by 20%, but many potential buyers see this as a good purchasing opportunity.
The shortage of supply of property in the UK compared to demand has arguably been exaggerated by developers and the Government, but decent sized family homes in popular areas are typically in short supply. Government development targets and planning guidelines have focused on quantity rather than quality. Target-led development has encouraged major scheme developers to concentrate on flats and small properties in order to deliver the most homes at the cheapest price.
A report by the National Housing and Planning Advice Unit the government's independent housing experts said that an undersupply of larger homes pushes up the cost of all properties and exacerbates house price inflation problems.
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