Britain is well-placed to cope with a downturn in the housing market
But it will still hurt, particularly for recent first-time buyers
Tanya McWaters, a 30-year-old television production manager, and her husband may have managed to buy right at the peak of the housing market. Like others their age the couple used their savings, as well as a little money from her parents—and, in their case, emptying his Australian pension pot—to cobble together the money for a deposit. They moved from a rented flat in London into a house in Bicester, near Oxford, last April. “I love it,” she says. “[The mortgage bill] was the same as our rent for the one-bed in London.”
This article appeared in the Britain section of the print edition under the headline “Pain and relief”
Britain January 21st 2023
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- The SNP response to the blocking of its transgender act is illiberal
- Britain’s trade unions lose faith in the pay review bodies
- Britain is well-placed to cope with a downturn in the housing market
- Horse-racing in Britain is in deep trouble
- Why super-strict classrooms are in vogue in Britain
- British politics needs more money
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