Why do we depend so much on the property market?
While we have touched on this subject in some of our earlier post it is still a subject which confuses and annoys some people. Why do we really depend upon the property market so much? Why is it such an integral part of our lives?
There are many reasons why we depend on the property market which include:-
Some where to live!
While this may seem the most obvious reason why we have an interest in property it is one of the main ones. Even though there is substantial council housing and rented accommodation around the UK there is nowhere near enough to cover everyone's needs.
Investment
Since you were a child you have probably been spoon fed the idea that bricks and mortar are the best investment you could ever make. In reality history has shown that property has been a very good long term investment in the UK and moves in a direct line with the economy.
Chance to make a home your own
Many people will look at the property market as a way of investing for the future, but also investing into something which they have a direct control over. Unlike council houses, where your options for change may be limited you can quite literally do anything you want with your own home, within the regulations.
Property always has been and always will be an integral part of UK life.
Share this..
Related stories
Are Zero Deposit Mortgages A Thing Of The Past?
As the UK Council of Mortgage Lenders (CML) continues to hit the market with ever more downbeat news on the mortgage front, it seems that first time buyers have been hit the hardest. The CML has announced that on average first time buyers are now being asked to put down 13% of the purchase price of a property as a deposit, but in this current economic environment there are few people are in a pos...
Read MoreUK government to introduce supermarket ombudsman
The UK government has today confirmed plans to introduce a supermarket ombudsman to monitor the relationship between supermarkets and their supplies to ensure there is no abuse of power. For many years there has been constant criticism of the supermarket industry with claims that suppliers are being pressurised to produce goods at wafer thin margins and are effectively at the beck and call of the...
Read MoreNPower in last place for customer service
17/09/2014 NPower have ranked bottom in a customer service league out of 100 brands, completed by consumer group Which?. First Direct came out on top of the survey, which covered 100 of the UK’s biggest brands across the banking, telecoms, energy, retail and travel industries. The survey of over 3,000 customers focused on customer service of brands, not on the quality or value for money of...
Read MoreFSA calls for curb on banking bonuses
Lord Turner, chairman of the FSA (Financial Services Authority), last night called for further curbs on banking bonuses ahead of the forthcoming G20 summer. After a relatively quiet period for Lord Turner, after his ill-advised comments regarding the UK banking industry, it seems as though the UK government and the UK regulator are back on the scene and looking for blood!
However, a...
UK banks to examine lack of lending to small businesses
Stephen Green, the chairman of the British Bankers Association and HSBC, has this week written to George Osborne outlining the creation of a new task force to examine the lack of lending to UK small businesses. The chief executives of Barclays, HSBC, Lloyds bank, Santander, Royal Bank of Scotland and Standard Chartered will play a major role in the steering group as complaints about a lack of fund...
Read More