Remote Property Investor

December Property Update

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This episode is Harvey’s monthly property investment update summing up all the latest news from the marketplace. He will be covering sales prices, rental market changes, mortgages, inflation, interest rates and giving his prediction looking forward to the new year.

KEY TAKEAWAYS

  • House prices are still strong but are showing some signs of cooling off. We can see a light dip in asking prices and it is starting to look like a good buyers market. The number of houses on the market is also quite low.
  • Remember every Christmas we get a slow down of the marketplace so this is not necessarily because of the end the COVID furlough scheme or stamp duty relief.
  • The rental market is booming at the moment with the fastest rent rises in thirteen years and the stock levels are low so there is a lot of competition between tenants. 
  • The Bank of England are considering relaxing the rules about the 5 times multiplier, the cap on what level of capital you can borrow based on your income. The only way the property market can restart in affluent cities like London is either a massive wage rise or price slump or the bank allowing an increase in borrowing.
  • Inflation has hit a ten year high. The long term target is 2%. Shortages from lockdowns have caused higher inflation with shortages. Currently inflation has hit 5.!% earlier than expected.
  • One of the impacts that this could have on the property market may be increases in interest rates and thus a slowdown in lending and higher debt for borrowers. 

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    BEST MOMENTS

    “The difference is Halifax and Nationwide show sold data and Right Move and Zoopla show marketing data.”

    “You can see this cooling off between June and October.”

    “One of the problems on London is the price per earnings ratio of affordability for people. In London it’s around 18 times the average wage.”

    “High inflation is a double edged sword, on one side inflation shrinks debt. It also pushes debt up with higher interest rates.”

    “Debt expansion has been ginormous, bigger that it ever has been in history.”

     

    EPISODE RESOURCES

    How to Reduce Landlord Taxes 2019-20 https://www.amazon.co.uk/dp/1999640543/ref=cm_sw_r_cp_api_fabc_79R9ZHHR1A65RYM5YR4J

    The Richest Man In Babylon: The Success Secrets of the Ancients--The Most Inspiring Book on Wealth Ever Written https://www.amazon.co.uk/dp/0451205367/ref=cm_sw_r_cp_api_fabc_MFM0MP7WF7AWGWYX5051

    Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! https://www.amazon.co.uk/dp/1612680178/ref=cm_sw_r_cp_api_fabc_1MY8PQJN7R1NSN167V6P

    VALUABLE RESOURCES

    💻| Join us in our remote property investing Community on Facebook

    📚| Live free training & Q&A every Sunday in the Community. 

     

    ABOUT THE HOST

    Harvey is the founder of Growth Properties Group, a small group of companies that help people live on their terms through property.

    With education, portfolio building, and property management. 

    He built his property portfolio and businesses in the Northeast of England, whilst living in the south, allowing him to spend time with his family and travel regularly. 

    Having built up the systems and team to run from his phone and largely on autopilot, he's now focused on helping others excel on their property journeys and build a remote investment lifestyle for themselves through group and 1:1 coaching programs. 

    His signature program, which runs 4 times per year, is the 6 Stage Remote Buy Refurb Refinance (RBRR) Blueprint.

    I help people to live on their terms through property & Coaching and portfolio building. 

    I’ve spent the last 7 years working out how to run my property business virtually from my phone. 

    Using tech to run my business while I’ve been travelling. 

    DM me clubhouse if you need help with this. 

    CONTACT METHOD

    👓| Find me on Facebook 

    👓| Find me on Instagram

    👓| Find me on YouTube 


    👓| Find me on TikTok

     

    This show was brought to you by Progressive Media

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