Who is going to buy all these new houses that are being built in the UK?
Where we live within a 3 mile radius it seems there are new mega housing estates being built, ones with 400+ houses.
Without even thinking I can think of 6 or 7, & that doesn’t include all the 75 – 150 developments happening.
In this area starting prices for these new builds seem to be around the £350k mark, average salary is £29k approx.
I just can’t work out who is going to buy them, typically the people who need them won’t be able to afford them.
I can’t see how there is not going to be a massive over supply in properties, part ownership, too risky for the other side, the investor IMO.
Fractional ownership where people literally buy a bedroom I think will happen & become the norm for first timers over time.
Finance & legal need to come together but I would think some FinTech will already be looking at making this a reality, blockchain?