I was having a lazy Sunday morning, reading through the newspapers at my favourite coffee shop in Walsall. I find the most interesting bits are their commentaries on the British Housing Market. Some talk about property prices, whilst others discuss the younger generation grappling to get a foot-hold on the property ladder with difficulties of saving up for the deposit.
Others feature articles about the severe lack of new homes being built (which is especially true in Walsall!). A group of people that don’t often get any column inches however are those existing Walsall homeowners who can’t move!
You would think that with ultra-low interest rates at 0.50% (albeit recently increased in the budget from 0.25%) the number of people moving would be booming – wouldn’t you? However, this has not been the case. Less people are moving because of the following reasons: