Soaring House Prices: Pushes millions of families for box houses

Sky rocketing house prices literally forces a huge number of families to look for box houses. In last ten years house prices in London have nearly doubled, reaching an average price of a home costing around £480,000. Even the most affordable places in England have seen a drastic increase in house price.

Possible Reasons

  • Government’s first-time house buyers scheme
  • Foreign investors
  • Not enough home builds
  • Successive governments short sight

Polly Neate, of the housing charity Shelter

‘Help to Buy is failing. It’s doing little for the first-time buyers it’s targeted at and nothing to help the families most in need of a home, while inflating house prices.’

What next?

For a common salaried person, he would be able to afford 900 sqft house in North East. While he would just get a one third box in London. Owning a property will be a dream for new home buyers, if they don’t plan for a hutch property.

Note: But London house prices are showing a slowdown from last year.

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