Mark Homer: 2023 Property Predications
Join Mark in this episode where he unveils his personal predictions for the property market in 2023 including why property prices are set to drop 30-40%! KEY TAKEAWAYS Inflation is now 10% and mortgage rates have gone up considerably resulting in property prices dropping around 10-15% already. The reverse is happening in the rental market as fewer people are buying and supply is too low. Mark doesn’t believe the bank of England will go to 5% inflation however, we won’t be seeing the historically low rates we have had over the past decade. Wages are now starting to increase in line with inflation. Properties will continue to fall in 2023, potentially in real terms a 40% drop in house prices. The big national builders are already building less. There will be fewer houses built in 2023. BEST MOMENTS “Clearly it’s not been an easy ride for lots of businesses” “We’re on course for a 30-40% drop in real house prices” “They printed too much money” “The national house builders are cutting back” VALUABLE RESOURCES https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/ ABOUT THE HOST Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties. CONTACT METHOD Email: Markhomer@progressiveproperty.co.uk LinkedIn: https://www.linkedin.com/in/markhomer1 Facebook: https://www.facebook.com/markprogressive Twitter: https://twitter.com/markprogressive progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/