We’re now in the lowest of lows the housing market has ever seen with the average price the same as it was 6 years ago before the boom. This catastophic dip is only here because of the massive high we all experienced, but how did prices get so high?
Some believe it was the doing of TV property shows as they encouraged home owners to knock down a wall and charge twice as much. Others think prices achieved unpresidented levels because there was insufficient planning and use of green belt locations for new developments. Either way, the days when mortgages were given out in cereal boxes and a quick house sale was the norm are gone and house prices have regained some normality.
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