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It was an announcement homebuyers and sellers barely needed to be told – Britain’s property market is going through its flattest period in the last five years. A report from the Royal Institution of Chartered Surveyors (Rics) found that demand from buyers, and new instructions from sellers, were down again, the lowest figures since 2013.
The survey paints a picture of the UK market as one affected by the poor weather earlier this year, fears over the effects of the Brexit negotiations, and even bitter infighting among estate agents to get properties on their books.https://www.theguardian.com/money/2018/a...s-buy-sell
Learn Change and Adapt ?????
Great. There will be bargains about again then.
Its been hard work and hugely time consuming finding decent deals for the past 12mths. Bring back the good old days when we were tripping over deals.
Stewardson Developments Ltd.
Burson Land Ltd. & Jennings & Gilchreaste Ltd.
Follow me on twitter - @philstewardson
Oh its going to come
I predicted Stagnation of property prices at best
But I think Now the crash will start in London and spread out to the rest of the UK
The problem is when it starts How will the Govt Stop the slide
They can hardly use Interest Rates as they have done in the past
we are going down a Dead End Road with this and the only way money will be made from property will be yield
If you and I invest on yield only we will make more money than ever before
Buy back into the market in say 5 years with yields over 8% and its a winner
Put aside Capital Growth its a red herring going forward in my opinion
Can't see a rate rise in May now then?
I agree with you
Remarkable that the economy can’t cope with a .25% rate rise to the “heights” of 0.75%.
I sort of breathed a sigh of relief when an agent rang me up the other day instead of the other way around
He had a 2 bed for 230K he wanted to offload . He wanted me to view - normally i ring him to view
Finally after strong growth ( some of mine doubling ) since 2010 house prices may well take a breather in some areas
In other areas they may well keep climbing or start climbing
Property cycles in different areas don`t mirror each other . That`s the beauty of a free economy
I personally stick with the one area so dont take advantage of these differentials
I admire people who do shop around the country though - if they get it right they are quids in .
I`m fairly conservative with regards to this shopping around .... aka I`m awfully lazy.
Anyway I said to this agent - But they were 215K this time last year not 230K - call me back when they will accept 200
Part of me wants him not to ring me back because that`s means its probably sold for maybe 225K or asking price even
Part of me wants to yes see it on the sold prices on rightmove in 3 mths time gone and sold for 225K
That means its gone up by about 4.65% in the last year . I can happily live with that with my existing portfolio
Part of me wants to see it on the sold prices on rightmove for 230K asking price
That means its gone up 7%. Thats even better . But it may not sell and it may be reduced . Time will tell
If you have 10 x 215K houses bought at 215K and this one sells at 230K you are then 150K better off than a year ago
If they however go down to 200K then on paper yes you've lost 150K
But your rent at a decent yield is still coming in right - so you are not that phased really .
In fact you expect this at some point in the property cycles . Youve planned for this naturally
You in fact look to maybe buy 10 more now because prices are off their peak so get on in there
Then when they go back up to 215K you are even stevens on your 20
10 have lost 150K but 10 have gained 150K . Its all on paper so its just numbers on a page at this point
You got your bread and butter rent coming in on 20 now rather than 10 so you are still better off in hard cash terms
But the real beauty is that when they go again to 230K ( which they will ) you are now 450K better off
When they go to 250K ( which they will ) you are now 850K better off
That`s why I love property .
It offers so many ways to make money as the years tick by whether prices go up or down
Jonathan Clarke. http://www.buytoletmk.com
Buy property & wait!
Don't wait to buy property!?