Rob looks at the recent announcement by Rightmove regarding potential housing boom areas for 2025, contrasting it with the current decline in property prices in London. He delves into the latest data from Halifax, which shows a year-to-date increase of 3.3% in UK housing prices, and explore the implications of a 26% rise in new property listings compared to the previous year.

KEY TAKEAWAYS

• Rightmove has reported a significant increase in property listings, claiming a new property boom is underway, with listings up by 26% compared to the same time last year.
• The increase in listings does not necessarily indicate a property boom; it could reflect various factors such as landlords selling due to economic pressures, homeowners testing the market, or seasonal trends following the quieter months of November and December.
• The Southeast has the highest number of new listings, followed by the East of England and the Southwest, indicating regional variations in market activity.
• The ongoing imbalance between high demand for housing and low supply is a fundamental driver of price increases, as evidenced by the Halifax reporting a 3.3% year-on-year increase in housing prices.

BEST MOMENTS

"Rightmove have announced some housing boom areas for 2025... it's interesting to see that Rightmove have, to an extent, almost countered that with their latest information."

"They do say that listings... have jumped by 26% in comparison to this time last year."

"If there are a lot more homes hitting the market, that doesn't necessarily indicate the start of a new property boom."

"When you're dealing with the fundamentals of supply and demand, that's what happens. Weak supply, big demand, demand outstrips supply, prices go up."

"Take it with a pinch of salt when you read that there could be a new property boom happening."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/homeandproperty/rightmove-reveals-property-boom-and-regions-racing-to-put-homes-on-the-market/ar-AA1x5jXc?ocid=winp2fptaskbar&cvid=d4982e65c2b64cd6c5f25e99b72e7c38&ei=24

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https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

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BOOKS

Property FAQs = https://amzn.to/3MWfcL4

Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob looks at the complexities surrounding the Bank of England's current monetary policy, particularly its base rate, which is held at 4.75%. With the next decision set for February 6, 2025, Rob highlights the challenges posed by persistent inflation, currently reported at 2.6%, and the implications for the mortgage and property markets.

KEY TAKEAWAYS

• The Bank of England has maintained the base rate at 4.75%, with the next decision scheduled for February 6, 2025. There are concerns about the potential for sticky and rising inflation, which complicates the decision-making process regarding interest rates.
• The official inflation rate is reported at 2.6%, but there is skepticism about this figure. Many believe that actual inflation is higher, especially when considering everyday expenses like fuel and groceries. The economic environment is characterised by persistent inflation and flatlining growth.
• The recent autumn budget has raised concerns about stagflation, where the economy experiences stagnant growth alongside high inflation. This situation poses significant challenges for the Bank of England in managing monetary policy.
• The Bank faces a difficult choice: keeping interest rates high to combat inflation could harm the mortgage and housing markets, while lowering rates might exacerbate inflation and create a housing bubble. This creates a "damned if you do, damned if you don't" scenario.

BEST MOMENTS

"The Bank of England held rates at 4.75%. The official inflation rate... is at 2.6%. But if you put fuel in your car or go to the supermarket, you're probably finding that prices are going up a little bit more than that."

"They're almost in a damned if you do, damned if you don't situation... If they keep rates up to deal with inflation, then mortgages and the housing market might struggle."

"Rachel Reeves also somehow managed to produce a budget that was inflationary and possibly at the same time deflationary. I'm not sure I've ever seen that before in my life."

"Energy is the economy. Without being self-sustained in energy, that's going to lead to all sorts of issues."

"If you lower rates, I just think it's gonna lead to a much bigger drop moving forward."

VALUABLE RESOURCES

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS

Property FAQs = https://amzn.to/3MWfcL4

Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob discusses the recent decline in house prices in London, highlighting that while the media may exaggerate the situation, the reality shows only modest decreases in certain boroughs. Using data from Halifax, he explores the implications of these trends, noting that London often sets the tone for the rest of the UK housing market.

KEY TAKEAWAYS

• House prices in London have seen a slight decline, with areas like Westminster and Ealing experiencing drops of 3.5% and nearly 5%, respectively. However, these declines are not as dramatic as some reports suggest.
• London has a high house price to earnings ratio of 8.22, making it one of the least affordable places in the UK, compared to the national average of 6.55.
• While some areas in London are experiencing price declines, other regions in the UK, such as Stoke-on-Trent and Slough, have seen significant increases in house prices, with rises of 17.2% and 15%, respectively.
• London often sets the trend for the rest of the UK housing market. A decline in London’s house prices could lead to similar trends in other regions, indicating potential challenges ahead for the national housing market.
• Despite current fluctuations, demand for housing in the UK remains higher than supply. This creates opportunities for investors, especially if they are prepared to act quickly when prices drop further.

BEST MOMENTS

"House prices have tumbled across swathes of London, but in reality, they're down by a couple of percent."

"London has a house price to earnings ratio of 8.22, making it one of the least affordable places to live in the country."

"If London is doing well housing-wise, chances are the rest of the country is going to be doing well housing-wise."

"There are always opportunities in the market, and demand for housing in the UK is significantly higher than supply."

"If a lot of the boroughs are starting to see declines in house prices, then that will have a ripple effect on the rest of the country."

VALUABLE RESOURCES

GET YOUR PROPERTY DEVELOPMENT FINANCE HERE:

https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

https://linktr.ee/thepropertynomadspodcast

BOOKS

Property FAQs = https://amzn.to/3MWfcL4

Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast