The Progressive Property Podcast Why Are House Prices So Expensive
https://bit.ly/BTLReport-POD
Kevin was at one of his refurb properties recording for the Progressive Property YouTube channel and it got him thinking about the myth of house prices right now being ‘expensive’. He talks about the causes of the housing market growth the past 18 months, explains why this has happened and demonstrates that it is actually an opportunity you can seize.
KEY TAKEAWAYS
- If you went back to previous house price hikes, such as 2003 and 1995 would you ask why house prices are so expensive? Are they really expensive or is it just the new normal?
- Due to pandemic restrictions, lockdowns, the stamp duty holiday and inflation we have seen tremendous increase in house prices in the past 18+ months.
- The uncertainty around banking, cash savings and inflation causing devaluation of money has created more property buyers, compounding the already booming market.
- Expense is all relative. It doesn’t matter how much a property costs you if you make profit from it each month or you are adding value.
- Your mortgage will always be cheaper than what you can rent it out at. Look for properties where you can add some value.
BEST MOMENTS
“When you print money and you put more money in the economy is causes inflation”
“We created a property bubble…these are little money boxes, it doesn’t matter what the price is, what matters is the profit you make from it”
“Interest rates have never been cheaper, they’re historically low”
VALUABLE RESOURCES
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
CONTACT METHOD
https://www.facebook.com/kevinMcDonnellProperty/
https://kevinmcdonnell.co.uk/