RICS: Housing market demand outstripping supply
Housing market demand will continue to outstrip supply for potential buyers, according to Britain's leading surveying organisation.
Projections from the Royal Institution of Chartered Surveyors (RICS) suggested returns have not been "attractive" for those investing in property.
The Express has gone further and suggested a potential market "crash" could occur.
RICS chief economist Simon Rubinsohn hinted that, due to changes in an individual's personal circumstances, home ownership may not be right for everyone.
He added: "Private renting or social renting both have advantages at different points in one's life. Certainly renting does provide a greater degree of flexibility over home ownership."
Mr Rubinsohn's views echo those of government minister Jonathan Shaw who told a Commons committee last month that renting a property should be an aspiration for affluent people and not stigmatised as merely a means of living for the less well-off.
Forecasts of a potential "crash" in the housing market could unnerve potential house buyers and encourage people to look for property to rent in the London borough of Islington, or elsewhere in the UK, as a result.
By Chris Price
Published 14th April, 2010
© 2010 Estates IT Limited
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Potential first-time buyers may be jittery about reports that the UK housing market could struggle in the wake of the general election and it may encourage people to look for property to rent in the London borough of Islington, or elsewhere in Britain, as a result.