What steps can you take to deal with the cost of living crisis? Join Mark as he talks about what you can do to help protect yourself from surging energy prices and the impact of the huge inflation we are seeing in the UK.

 

KEY TAKEAWAYS

 

• The pandemic has meant there has been a reduce in supply for gas and electric but then we have seen an increase in demand. This has been further exacerbated by the war in Russia and the Ukraine. The world gas and oil price has gone up significantly.

 

• One way to protect yourself from the rise in energy costs is to improve your EPC rating to at least a C, via insulation, new boiler etc. The government is also going to put pressure to get all homes to a level C anyway so you are also future proofing youself. Intelligent thermostat systems, such as NEST can also help you save energy.

• If you take a fixed rate with your energy supply, you will generally pay more over the long term but it does offer you a level or protection from price hikes.

 

• People are reducing their outgoings in a multitude of ways. Netflix subscriptions have gone down and the stock market are also seeing reduced numbers of investments and investors.

 

• Marks tips if you can still afford to invest than you should. Just focus your money on longer-term investments.

 

• Right move said the past two months has had the biggest imbalance of supply –vs- demand in its history. Short term predictions are impossible to make, those who do might make headlines but they are usually wrong. Mark believes yes, house prices will crash but he, like no one else, can predict accurately when that will be.

 

• There have been multiple things that have caused a lack of labour including Brexit, the pandemic and early retirement. This is creating a shortage in many different manufacturing industries as well as in the building industry and haulage. 

 

BEST MOMENTS

 

“If you’ve got the cash to ride the peaks and troughs you’re probably better going for a variable”

 

“A price war probably will break out across the supermarkets”

 

 "It won't be too long until you see more and more immigration starting again"

 

VALUABLE RESOURCES

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

 

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

 

Email: [email protected]

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

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