{"id":8192,"date":"2021-06-18T22:56:13","date_gmt":"2021-06-18T21:56:13","guid":{"rendered":"https:\/\/cardiffjournalism.co.uk\/life360\/?p=8192"},"modified":"2021-06-18T22:56:15","modified_gmt":"2021-06-18T21:56:15","slug":"peaking-house-prices-what-happened-as-it-hitting-the-record-high","status":"publish","type":"post","link":"https:\/\/cardiffjournalism.co.uk\/life360\/peaking-house-prices-what-happened-as-it-hitting-the-record-high\/","title":{"rendered":"Peaking House prices: what happened as it hitting the record high?"},"content":{"rendered":"\n

With young people increasingly priced out of both renting and buying a house in the UK, how are they trying to get on the property ladder?\u00a0<\/h2>\n\n\n\n

It was the date near the end of his master course and his tenancy of his apartment in Cardiff. Ruan Hallet, a twenty-two years old student at Cardiff University, holds his phone and scratched his scalp while texted to his parents and discussed the place he can live in when back home.<\/p>\n\n\n\n

Ruan has a brother who lives at home, but there aren’t enough room at his parents’ house for both brothers to live in. One of them has to sleep on the sofa in the living room, when they are both at home. But sleeping in the living room hardly can have any private space, said Ruan.<\/p>\n\n\n\n

\u201cI will probably live in a caravan until Christmas before I get a job and rent a place.\u201d<\/p>\n\n\n\n

\u201cHopefully, I will get a job that pays me 20,000 pounds a year but probably it will end up lower than that like 19K, the house price at now is too high for me to buy. Even though I decide to buy a house later on, I need to rent my own place to live. The total salary minus the rent, food, and other living costs, it will take me decades to afford a proper house by myself under the current prices.\u201d<\/p>\n\n\n\n

\u201cI will work in my brother\u2019s baker shop as a full-time baker shortly after I get home,\u201d said Teddy Moses, who lives in the northwest of London and his parent\u2019s house has sufficient spaces for two brothers.<\/p>\n\n\n\n

\u201cMy brother will pay me 11.50 pounds hourly which means 18,000 pounds a year. I will live in my parent\u2019s house and my brother\u2019s shop is near the house so that I barely have any living cost and can save the majority of my wage.\u201d<\/p>\n\n\n\n

\u201cI only need to save a year salary that I can afford the deposit, no mention that my parent will defiantly support me financially,\u201d said Teddy.<\/p>\n\n\n\n

The house prices in the UK are currently at their moment of glory, which has reached a record high in nearly seven years in May, the trend is still going up thanks to the extension of the stamp duty land tax holiday and increasing demand by richer household, the Bank of England\u2019s chief economist said on Tuesday.<\/p>\n\n\n\n

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