Nick Millican Notes New State of Market
The real estate market in London is not an area of calm activity. This is a realm whose only constant is perpetual change. It is a volatile world where house prices rise and fall as new properties are created. At the same time, plenty of new chances for success are forged when old buildings come down. It’s a world that few grasp as well as Nick Millican.
Nick Millican is one of the foremost authorities within the realm of the current housing market in the city. As a result, the real estate agent has been one of the first figures to be privy to the new set of facts and figures that are emerging.
Many of these have taken on an alarming note. They represent trends whose sustainability is questionable at best. For example, Nick Millican adds, it should be noted that the price of rent is now estimated as 42.5 percent of the average renter’s income.
This is a trend that people like the successful real estate agent Nick Millican can’t be comfortable with. It leaves renters in the city in a position that renders them unable to afford to rent or buy homes. As a result, the market is bound to suffer.
Nick Millican and his peers have not been able to suggest a solution for these pressing issues. It should be noted that, in order to be considered affordable, the cost of housing should only consume 30 percent of a person’s income. The fact that prices in London exceed this figure is a warning to be heeded.