Manage episode 281323078 series 2342628
Join your host Kevin McDonnel as he discusses this weeks property news. Landlord today has named London as the city with the highest rent in the UK with an average of £1435 a month in comparison to the North East where the average rent was £490 a month. Property investor today analysed how Brexit will affect the UK’s housing marketer and Kevin discusses news closer to home as he finds out what has been happening in the Progressive Property community.
Weekly Property News
- On the Landlord today website they have reported that rentals have hit an all-time high according to government figures. The average monthly private sector rent in England for September was £725. This figure was the highest ever reported by the office of national statistics. There were regional differences with London being the highest at £1435 monthly and the North East the lowest at £490 monthly.
- Property Investor Today stated that the UK has been ranked top hot spot for overseas residential investments post-Brexit. Suggesting the UK real estate market will remain firmly open for business post Brexit.
- The findings from the European global real estate survey by international law firm DLA Piper found that overall, the top 5 countries for investment are all in Europe with the UK leading the way with 33% followed by France 28%, Germany 25%, Spain 24% and Italy 18%. Many people think there is going to be a housing crisis after Brexit however, these statistics prove otherwise.
- Currently, businesses have to register for VAT only if they make over £85,000 per year. However, UK digital platforms combined are forecast to have as much revenue as £140bn a year by 2025. Much of this will be untaxed because it is secured by small scale individual operators who individually have less than £85,000 of turnover. This means if the government decided to charge VAT to Air BnB’s then if you as an individual has a turnover under £85,000 decide to put your property on Air BnB, Air BnB will be charged VAT on their income which will be significantly above the £85,000 of you the individual. Air BnB will have to pass that cost onto you.
Progressive Property Community News & Discussions
- Should you buy property now or should you wait until next year should there be a crash in the market? Instead of asking yourself this, ask “What can I do now to find the very best possible deals that are available right now”.
- You make more money in property in a market that is going down and in recession type market than you ever do in a rising market. Why? Because in a rising market, the homeowner can sell to anybody they like. In a market like a recession, it becomes a buyers market. Property investors should always be buying.
“It is really interesting that rent has actually increased during the pandemic.”
“This is really important data for us as property investors.”
“There is still a significant profit margin in Air BnB”
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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.
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