Runaway property market shows no sign of easing up as prices on track to surge 10pc this year

Investors are increasingly targeting cheaper regional homes in response to the tightening rent-cap regulations, leading to unprecedented levels of activity in the housing market this August.

The Institute of Professional Auctioneers and Valuers (IPAV) predicts that housing price growth will accelerate to 10% by the end of 2024, indicating a higher demand for affordable homes.

First-time buyers are finding it increasingly difficult to afford houses in urban areas and are therefore shifting their focus towards smaller homes in less expensive rural markets.

With annual price growth currently forecast to hit 10%, it suggests a significant price inflation at the lower end of the housing market, impacting first-time buyers' options.

Read at Independent