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Will UK House Prices Rise or Fall in 2021?

Will UK House Prices Rise or Fall in 2021?

Nobody could have predicted in March 2020 that the UK property market would enter a mini-boom during a global pandemic. Join Kevin today as he discusses whether the market will continue to rise or fall in 2021.

Kevin looks at the reasons behind the 2020 property boom, why putting your money into property is a safe option and why you should only invest in properties that can pay you a positive income every month.

KEY TAKEAWAYS

In 2020 we saw a mini property boom. Who would have thought that house prices would have continued to rise throughout a global pandemic? This happened for a number of reasons. One reason is because of the stamp duty holiday which lit the flame of the property market boom.

Those that were put on furlough also caused a rise in the property market since they actually had more available money and more time to think about the type of lifestyle they wanted. Interest also dropped to 0.1% meaning people were getting less money on their savings.

If you have more than £85,000 in your bank account and the bank you’re with goes under you will only be protected for the £85,000. People with cash have been moving their money into property as it is safe there.

In ten years’ time house prices will be higher than they are today. The experts in the property industry are talking about a 4% rise in the property industry. Even if there is a reduction in the market this year you can still buy value. You do not want to buy a property where there is no way to add value.

All you can do is buy what is in front of you today. Make sure you have got the numbers right, make sure you purchase a property that can pay you a positive income every single month.

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2021 Property Predictions | Will The Market Crash? | UK Property Market

2021 Property Predictions | Will The Market Crash? | UK Property Market

Nobody could have predicted that a mini property boom would have happened during a global pandemic in 2020. With that in mind Co-founder of Progressive Property, Mark Homer takes over today’s podcast with his property predictions for 2021. Mark discusses why many retailers are moving to the outskirts of the city, a possible stamp duty exemption extension and why we are likely to see a rise in single let properties as unemployment rates rise.

KEY TAKEAWAYS

The pandemic has had a huge effect on many industries, especially retail. Many retailers are moving into warehouses on the outside of town to fulfil their customers’ needs for online purchasing. Despite what most of the property experts said, the property is gone up significantly this year.

Many people want to move to different sized homes in different locations as they are not having to commute as far with the pandemic. In addition to this, a stamp duty exemption has reignited the market and pushed it on. The stamp duty exemption ends in march, however, there is talk of it being extended.

Focusing on whether the property is going up or down is the wrong thing to be looking at. You need to be looking at strategies that work in all markets because it is unpredictable. Nobody knows what will happen to interest rates or government support, which has given support to the employment and property market.

The residential housing markets (specifically single lets and HMO’s) are likely to see increased tenant demand in 2021 because unemployment is predicted to rise and people will likely decide to rent instead of buy. This is likely to push rent up and reduce voids.

The further into the year we go it is likely that house prices and stock markets get a significant lift as the value of money decreases. The prices of consumer goods and everything that goes into the basket for the retail prices index is not likely to lift that much if it did quantitative easing would be reduced significantly and interest is likely to go up. However, it is more likely that asset prices are likely to increase.

Lessons learned from 2020 taught us that things can only get better. It also taught us that people can have a very short term mindset, there were much more motivated sellers in the last recession and there were many more property deals to do because there were so many sellers that needed to offload to raise cash. After the market came back, property prices rose.

#HousingCrash #PropertyMarket #2021PropertyPredictions

Mark Homer tour video of the 99 apartment build
https://youtu.be/ZONoj8v3usU

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Like the Facebook page:
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Visit the website:
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For more property tips & information check out our best-selling property investment books on Amazon: https://www.progressiveproperty.co.uk/amz