The media coverage on the housing slowdown since Brexit has certainly fuelled first time buyers to get on the market now before conditions change so there is still plenty of activity in the first time buyers market. Particularly in pockets of London that are re-generating such as Peckham, Croydon, and Leytonstone as well as outside areas in pockets of Bristol and Birmingham. Due to a failure to build enough houses there is a lack of housing stock, and couple that with a rapidly ageing population who are not moving thus not releasing house stock, you have even more reason for strong demand. Over the next 5 years, with an expected overall UK house price growth at 14% and a London house price growth at 25%, investing in property is still a very sound investment. First time buyers can certainly expect to get on the market now, sell in 5 years, and walk away with a nice margin to upgrade to their next bigger home or life-long home.

Market conditions are bringing a change of mentality to the UK regarding home ownership versus renting. Due to a housing shortage, high house prices and a tighter regulated borrowing market demanding minimum 10% deposits, and until recently a government not investing enough in rentable accommodation, a shift in mentality has started to happen, especially in London, regarding renting versus buying. This is a welcome breath of fresh air and more in-line with our continental cousins. The government is now on-board and shifting policy to build more rentable homes and it is definitely the case that the private rental sector is going to get more buoyant in the UK, which is another excellent opportunity for long-term investors looking to build a sustainable portfolio over the long haul.