Do NOT Invest Here in 2024
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- Опубликовано: 28 май 2024
- In 2023 we arranged more than 450 property purchases around the UK, and in 2024 we plan to buy even more.
However, there are 5 cities that we consider to be ticking timebombs, waiting to explode and we would recommend not investing in these cities in 2024.
So today we’ll take a look at which cities they are, why we are avoiding them, and help you navigate the property minefield in 2024.
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We’d love to hear what you think in the comments below. You might even have a topic you’d like us to cover in the future - if so, comment it below.
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Be great to get some videos on regional specifics. Really keen to hear about the Midlands/Staffordshire
Excellent property channel. Keep it up
This is the best informative property channel
You're doing a great job.
Much appreciated 🙏 🏋
Thank you!
Amazing video thanks rob 🎉
Scotland is going downhill, their taxation has been ridiculous and they’ve made an enemy of landlord. You’ve got to remember someone still has to own the property at the end of the day.
Indeed!
Although I live in Scotland I'm so glad I invested in England @@PropertyHubUK
They need to rise the basic rate limit in line with rest of Uk. Any one on an average is almost a higher rate tax payer with a rental property AND a 6% additional dwelling supplement, ridiculous
That's a good thing. Buy to let has been a scourge on the country. Only good for a small section of society.
@@barry9741has it? Please explain?
Thanks for the heads-up! Avoiding potential pitfalls is crucial in investing. 👍 #FinancialAdvice #Investing
You're wrong about Cambridge. It's expanding enormously on the back of tech and biotech The AI bubble is only going to make this worse.
Hi , where is the best place to invest ?
Hey Rob, what is a respectable yield for buy to let in London, pls? Cheers
I’ve seen 7% gross in places recently, which I hadn’t for a long time. Respectable is a personal judgement though
Wow, 7% is pretty decent. Thanks Rob and happy new year!@@PropertyHubUK
Why Cambridge and Oxford? I'm not that clever... so please elaborate.
Students are complaining abt oxford becis of their high cost of living, watch PoliticalJoe.
Good analysis! But I think you are not considering the political factors here. It's almost a certainty that Labour will win with an absolute majority in just a couple of months. Their main voters are young people, who are completely excluded from the property market at the moment. I wouldn't exclude any scenarios that will turn upside down the current status quo - including rent controls, more regulations, and taxation in the property market.
I'm hoping not, but better be prepared for that...
It's unlikely there will be a general election in "just a couple of months"; there's a degree of unpredicatability when it will be although more likely to be sometime between September and November 2024. The Conservative party is at a low on popularity and will be keen to have more time to attempt to correct the situation. The Labour party have been keeping relatively quiet as their main popularity engine has been the Conservatives.
@@graemegourlay2850 Couple the uncertainty that you mention with what will come after September or around that time, and you have buyers sitting on the sidelines, bringing down, even more, the number of transactions...
@@SycAamore I agree. The Government's housing policy has been a disaster for tenants and landlords. The only stakeholder that has benefited is the Government itself. It's unclear right now what the Labour policies will be; there are ideas being communicated although none of these are part of a plan or manifesto at this time. For both parties I particularly dislke the manipulative misinformation that creates a conflict between tenants and landlords. Tenants and landlords shoud buddy up and lobby these political parties to create a situation that balances both requirements. Landlords have effectively become tax collectors of tenants money for the Government.
@@graemegourlay2850 Yes indeed. I think the status quo that we got so used to in the last 10 years or so is coming to an end very soon. If they get the absolute majority, and I'm pretty sure they will, they'll be emboldened to make some radical changes, including in the property market. I'm talking to property investors and just the mention of Labour makes them run away. Some of the risk-averse ones already sold up and bagged the peak prices from 2022. My prediction is that investors will start to wake up to the reality of Labour in power, and will just dump their properties on the market in the coming months...
I’m more positive about political pragmatism setting in once either party has time and space to make unpopular yet sensible decisions. Doesn’t mean I’m right though!
You haven’t mentioned the effect of a Labour government and a hostile mayor in London, both of which enough to give that city a wide berth.
Birmingham is not good, we get lower rent now than in 2019, it’s dead, even if all articles tells us the opposite.
Hey Rob,
With your prediction there may be a crash in London coming soon. Would you then say that would be a time to consider as a good investment buy? Perhaps in 2025 (if the crash happens then of course)?
We go into this more in our latest podcast. In short: there will be strong deals from motivated buyers as an entry point for a long term hold
How many people do you know who runs successful property business in Scotland?
Mentions South West, but misses Cornwall on the graphic 😢
Clearly our designer hasn't used the atlas we bought them for Christmas
How much do you think Wolverhampton will benefit from Birmingham’s ‘ripple’ as you call it?
It won’t
Big regional developers are starting to build there so they’re seeing something
Also consider nearby Dudley. Lot's of redevelopment already started and Metro tram extension well underway.
Yes, lots going on in Dudley too