City AM’s Post

Fear is gripping the UK property market. House prices are dropping as rates are increasing. But zoom out and look at the bigger picture. To understand the future let’s take a look at the past 👇🏼 Average UK house prices: 1950 - £1,900 1960 - £2,500 31% 1970 - £4,000 60% 1980 - £23,000 475% (😮) 1990 - £57,000 48% 2000 - £89,000 56% 2010 - £170,000 91% 2020 - £249,000 46% Average growth rate per decade of 55% (ignoring the 475% anomaly decade). Here’s my prediction for the future: 2030 - £386,000 55% 2040 - £598,000 55% 2050 - £927,000 55% Buying property under value today will see you reap massive benefits over the long term. ——————— Hey, I’m Matt 👋 I’m a property investor. Are you a new investor with lots of questions about BTL? Book a Power Hour - DM me ‘PH’

This recent article on Estate Agent Today highlights that the prime London market slowed in 2023. Our CEO, Simon Brown, provided his observations following the release of our Q4'23 Residential Property Trends Report. Read the full article below. #PropertyData #PropertyTrends #LandmarkData #LandmarkInformationGroup #EstateAgentToday

The Current State of Prime Property in the UK: Fluctuating Prices and Future Outlook: https://lnkd.in/eeNvGHwW 📍 Find Us @WestcleanUK: https://lnkd.in/erfNMvHu #westcleanuk #cleaningservices #facilitiesmanagement #commercialcleaning #property #professionalcleaning

The Current State of Prime Property in the UK: Fluctuating Prices and Future Outlook: https://lnkd.in/eeNvGHwW 📍 Find Us @WestcleanUK: https://lnkd.in/erfNMvHu #cleaningservices #facilitiesmanagement #propertymanager #commercialcleaning #property #housingmarket #professionalcleaning

Looking ahead, although cash buyers have supported activity across prime London, a more significant shift in market conditions is reliant on buyers seeing their spending power increase, as opposed to decrease. The fact that the Bank of England held Bank base rate at 5.25% in September and the prospect of a continued steady decline in inflation over the next 18 months or so, has limited the likelihood of further rate rises. This has caused some stability to return to the lending markets and fixed-rate mortgage costs have eased back, particularly for longer-term products. But a more meaningful change in debt costs, and therefore a gradual recovery in prices, is dependent on Bank base rate being cut. That seems unlikely before the second half of next year. Even in prime central London, price sensitivity and buyer caution is also likely to continue into 2024, particularly as we approach the next general election. But we still expect central London to outperform all other UK residential markets in the medium term, not least because of its standing in an international context and the fact that global wealth generation is expected to continue rising.

Looking ahead, although cash buyers have supported activity across prime London, a more significant shift in market conditions is reliant on buyers seeing their spending power increase, as opposed to decrease. The fact that the Bank of England held Bank base rate at 5.25% in September and the prospect of a continued steady decline in inflation over the next 18 months or so, has limited the likelihood of further rate rises. This has caused some stability to return to the lending markets and fixed-rate mortgage costs have eased back, particularly for longer-term products. But a more meaningful change in debt costs, and therefore a gradual recovery in prices, is dependent on Bank base rate being cut. That seems unlikely before the second half of next year. Even in prime central London, price sensitivity and buyer caution is also likely to continue into 2024, particularly as we approach the next general election. But we still expect central London to outperform all other UK residential markets in the medium term, not least because of its standing in an international context and the fact that global wealth generation is expected to continue rising.

Looking ahead, although cash buyers have supported activity across prime London, a more significant shift in market conditions is reliant on buyers seeing their spending power increase, as opposed to decrease. The fact that the Bank of England held Bank base rate at 5.25% in September and the prospect of a continued steady decline in inflation over the next 18 months or so, has limited the likelihood of further rate rises. This has caused some stability to return to the lending markets and fixed-rate mortgage costs have eased back, particularly for longer-term products. But a more meaningful change in debt costs, and therefore a gradual recovery in prices, is dependent on Bank base rate being cut. That seems unlikely before the second half of next year. Even in prime central London, price sensitivity and buyer caution is also likely to continue into 2024, particularly as we approach the next general election. But we still expect central London to outperform all other UK residential markets in the medium term, not least because of its standing in an international context and the fact that global wealth generation is expected to continue rising.

The Current State of Prime Property in the UK: Fluctuating Prices and Future Outlook: https://lnkd.in/e2c8EvXV 📍 Find Us @WestcleanUK: https://lnkd.in/eJd3WtH4 #cleaningservices #facilitiesmanagement #propertymanager #commercialcleaning #property #housingmarket #professionalcleaning

The Current State of Prime Property in the UK: Fluctuating Prices and Future Outlook: https://lnkd.in/e2c8EvXV 📍 Find Us @WestcleanUK: https://lnkd.in/eJd3WtH4 #cleaningservices #facilitiesmanagement #propertymanager #commercialcleaning #property #housingmarket #professionalcleaning