England. Considering that London alone has a population of about 7.7 million, this number seems to be small. However, when assessing the UK housing market, it is helpful to understand that the leasing industry plays a very important role in the housing market. Not only is it very lucrative, but in places like London and the surrounding area, rental properties provide housing for the majority of the population.
Until recently, mortgage rates were high and there was no demand for private homes, making it cheaper to rent a home than to own one. Individual investors who participated in buy-to-rent (buy-to-rent) found it easy to get a real estate mortgage. Partly due to the impact of the leasing industry, the UK housing market suffered in January 2009 due to a decline in applications from new home builders. It decreased by almost two-thirds compared to the same period of the builders south east London previous year. But in the case of August 2009. Sales increased by approximately 52% in the year-ago quarter. During the quarter ended June 2009, the number of new homes under construction increased by approximately 63%. Overcrowding and the desire for private property increased the demand for new homes and ultimately made it a little harder for investors to buy rental properties. Mortgage companies are now beginning to offer more incentives for first-time homebuyers to buy new homes. The UK Government is considering a plan for co-ownership, including three ownerships: Government, Borrower, and Buyer. Tax cuts for first-time homebuyers are also appreciated. Special incentives are considered for teachers and healthcare professionals (called key workers). When homebuyer loans become easier for the first time, new home construction will resume.