I don't know about other countries but the home working boom has screwed the property market where I live -- a small English town that I moved to ten years ago because it was 'affordable'. Property prices had climbed before lockdown but since then, they've rocketed. There's nowhere to rent within five miles of the town centre and you're looking at more than double the national average if you want to buy even the smallest of boxes. Rental isn't cheap either. Fine if you're paid a big city weighting. The UK government is partly to blame as it cut stamp duty -- I've never seen so many SOLD signs up -- without considering the consequences. People are flooding to rural towns despite limited housing. This last few months, my town's Facebook group has been inundated with posts from local families looking for homes.
I don't know about other countries but the home working boom has screwed the property market where I live -- a small English town that I moved to ten years ago because it was 'affordable'. Property prices had climbed before lockdown but since then, they've rocketed. There's nowhere to rent within five miles of the town centre and you're looking at more than double the national average if you want to buy even the smallest of boxes. Rental isn't cheap either. Fine if you're paid a big city weighting. The UK government is partly to blame as it cut stamp duty -- I've never seen so many SOLD signs up -- without considering the consequences. People are flooding to rural towns despite limited housing. This last few months, my town's Facebook group has been inundated with posts from local families looking for homes.
Unfortunately when the stamp duty cut is removed in late march/april (i forget when)
Then prices will go back as the houses will cost more.
The price rise is almost artificial as prices in my area have risen very quickly by effectively as much as what was saved from stamp duty.