Looking for a new house? It won’t be easy. There just aren’t that many on the market. A statistic from The Times sums it up. In the 1980s, around 12% of all houses in the UK changed hands each year. In 2013, just 4% did. Why? More people are buying as an investment rather than a home (so they hold for longer).
The high price of housing prevents people from trading up. Rising life expectancy means older people stay longer in their own homes (so fewer come to market each year). And finally there is stamp duty.
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