The London Evening Standard is a free daily newspaper. It contains a Homes and Property section. That part of the paper keeps readers informed of the latest happenings in the world of real estate. An article concerning housing experts such as Nick Millican recently chronicled the fall in home prices in August in the United Kingdom (UK).
Nick Millican is an individual who is intimately aware of the changes in the London real estate market. He brings to that market a wealth of experience and knowledge of the ins and outs of real estate in the greater London area. That is based upon his prior employment and years of confronting the continual changes in the real estate market.
The specific causes for the fall in home prices in August is attributable to two factors. Both of these are very familiar to a person in the industry like Nick Millican. One factor is the rise in mortgage rates. The higher the rates go the fewer individuals can qualify for a loan.
Those who would obtain financing will be able to receive less money as the rates increase. The second point is what the article labels as the “cost-of-living” crisis. That, Nick Millican suggests, simply means that items other than housing cost more money. That means less money in a person’s budget for housing.
A seasoned real estate executive knows how to combat these two factors. Nick Millican has made it his life’s work to help individuals navigate the housing market. Although these factors seem overwhelming in August, he is able to assist people in obtaining housing.