There's a link below to a rather interesting article by Forbes, which dates back to July 2019 with a couple of interesting predictions here that came to fruition.
UK property prices have increased by £15,000 on average since this article was originally published, £10,000 of that increase was within the last 12 months.
When guest speaking at seminars or webinars the topic of "generation rent" always crops up and this is now more relevant than ever. Whilst a great number of lenders promoted periodically a 95% LTV (loan to value) mortgage offers for FTB's (first time buyers), these products were snapped up within seconds of release. The options facing most FTB's is to go in deposit heavy (80-85% LTV) to ensure they get the best deals available but with property prices increasing so quickly many fear they'll never get a foot on the ladder.
Interesting fact: 25% of people over the age of 40 who don't own their property don't think they ever will and are happy with the concept of renting into retirement.
We manage hundreds of tenants residing in HMO's, which is seen as the most cost effective way to live and save those all important pounds and pennies; Fixed rents with bills included.
https://www.forbes.com/sites/garybarker/2019/07/30/the-changing-face-of-renting-in-the-u-k/?sh=11a79d89771c
When investing in property, it's always important to understand the mindset of the end user. Please do not hesitate to contact me should anybody need advice or help with a property related matter. We're here to help.
