Real estate expert Nick Millican shares information concerning the UK´s current housing trends. It is not an uncommon thing for people in London to be unable to pay their rent or mortgage. It is estimated that 24 percent of people in London won’t be able to make their rent or mortgage payment. 

Nick Millican shares more information on this concern. Many people are also having to trim their expenses so that they can afford their rent or mortgage payment. Additionally, 12 percent of people have rented a room out in their home in order to make it easier for them to pay their mortgage.

One of the reasons that people look forward to owning a home is because they want to renovate a house the way that they like. However, Nick Millican adds, 20 percent of people have had to hold off on making renovations to their home so that they can pay their mortgage.

Mark Arnold is the Head of Savings and Mortgages at Barclays UK. He stated that many people have been trying to rent out their rooms or find additional ways to bring in more income so that they can afford their mortgage.

Even though housing costs have not been rising as much as they did in the past, they are still 1.8 percent higher than they were in March 2023. It is important to consider your budget before renting or buying. Nick Millican helps people find places that they can afford.