Beeny knows best - Week 3

Beeny knows best - Week 3

Week 3 of Beeny Knows Best, where our very own Sarah Beeny takes to the blog to answer your property-related questions.

What implications do you think the Autumn Review will have on the property market? - Thomas Heel

We endlessly hear about the chronic shortage of housing in this country and a major rethink around housing was needed to avert a crisis. So, I’m pleased the Government has committed to help people who want to buy their own home by doubling the housing budget, committing to building more homes and investing in it's Help To Buy: Shared Ownership scheme.

 These homes need to be built in an organic way around centres where people want to live.  A major shift in terms of budgets being moved into improving transport would also allow the housing that is affordable to be easily accessed where working centres are – allowing the burgeoning suburban areas to loosen their boarders and stopping prices from rising any more than is sensible. 

 The Government couldn’t be complacent and simply allow a housing bubble to happen, so it’s great to see they’ve committed to heading this off. There’s still more to do though to ensure the housing market remains stable going forward.

I'm 25 and am so eager to purchase my first home in London, but prices seem so out of my reach. Is there anything I can do to help get on the property ladder but stay in London? - Cat Davies
I would suggest getting a train map and studying how far you can get if you head out of london about 15/20 mins - you'd be surprised by how affordable property becomes if you head in the right direction.  Alternatively, if you want to stay more central you could club together with a friend or two and save together. There is masses that you can do to have fun without spashing the cash if you are adventurous - saving doesn't have to be as tedious as it sounds!