Friday, 20 July 2018

Property price rises will mean more pain for first-time buyers

HOUSE prices in Henley are set to rise even more sharply, according to estate agents.

Figures produced by Savills show that prices will increase by 23.3 per cent over the next three years, compared with an increase of 13.6 per cent in the last five years.

First-time buyers will find the market even tougher to enter with values set to increase by five per cent during this year alone.

Stephen Christie-Miller, head of Savills in Bell Street, Henley, said: “Henley is a very expensive town. As the prices go higher and higher, getting on the bottom rung becomes harder.

“You can’t reverse market forces so young families, even with government help, are finding it very hard to get on the first rung. Two or three-bedroom terraced houses are now about £500,000.”

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