The struggle to untangle the Gordian knot that is London’s housing crisis looks as far from resolution as ever. Rocketing interest rates make raising a mortgage far more expensive than any time for 15 years, while the closing of the Government’s Help to Buy scheme — it was shut to new applicants late last year — knocks away one helpful property step-ladder for young buyers.
Meanwhile figures from Nationwide yesterday suggested prices may soon actually be rising again, while private renters struggle with ever increasing living costs, insecure tenancy agreements and gruelling competition to secure flats when they do become available.
