Parents push prices up

According to the Telegraph, the so-called bank of mum and dad has replaced easy credit and high-loan-to-value mortgages following the 2008 crash, fuelling the housing market.  A report by the property group JLL found a record 7.3m homeowners – 33 per cent of households – owned their property outright, with “too much housing equity in the hands of the over 50s”. In combination with the UK’s housing supply crisis, this level of equity washing around was keeping house prices high, said JLL.