Letting Focus says house price bottom may be 12 months off
I thought I’d just post a quick comment on the Lehman and HBOS news and how this affects the property market.
Well, just when you thought it was OK to come out of the bunker another set of bank execs shuffle into view to ‘fess up to the mess they have made of their banking business.
As the execs go back to Monaco or West Palm Beach to check on their bulging bank balances earned in the good times, you might be asking how that alters the picture on property and the optimal time to invest to bag the property bargains that are slowly starting to emerge.
As I have said before it all depends on what type of property you want to buy and where you are because the property market is not homogeneous and moves at different speeds in different areas.
But in general terms, the Lehman collapse and the problems at HBOS will result in the money markets taking fright again with the result that mortgage rates will go up.
Exactly how much they will go up will depend upon the extent of central bank intervention.
But even in the best case scenario I think that the bottom for house prices must now be pushed back by at least another 6 months.
This means that lowest achieved prices in most residential property markets will not be reached for at least another 12 months from now.
So that will give you a bit more time to do your research, get your finances in shape and plan where and what you are going to buy.
A good place to come and find out more is to my investor seminars.
OTHER OFFERS
My next Evening London Seminar and Networking meeting is coming soon – details here… Property Seminar and Networking. Just email us at david@lettingfocus.com and give us your full name – and that’s it. Then just turn up and pay (£25) on the night.
We are also delighted to advise that we will be exhibiting and speaking at The Property Investor Show – London, 19th - 21st September 2008, and would like to invite you to attend the show as our guest. If you are available on 19 - 21 September, please visit http://www.propertyinvestor.co.uk/london/register.asp. Simply type the promotional code S190770 into the relevant field and this will allow you to print off your free ticket to enter the show. (You will still need to pay to go into seminars)
I am speaking 4 times at this show – on my own and at a workshop with Designs on Property’s Kate Faulkner.
ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON
I’m David Lawrenson of property experts lettingfocus.com.
I’m the author of “Successful Property Letting - How to Make Money in Buy to Let” which for the last 3 years has been the UK’s top selling property title - buy the UK's top selling landlord book.
It is fully up to date with all the recent changes to tenancy deposit schemes, HMOs, licensing, capital gains taxes and it has new sections on buying property below market value.
I’m an expert property journalist, property speaker and a well known buy to let blogger
I contribute to newspapers and a host of property websites, write a number of columns in the press and I provide landlords training & education
I also work as a consultant helping banks, building societies, housing associations and web portals with their buy to let and property products and services and am a regular speaker at property shows.
You can read more of my blog & find details of my networking, advice, property training programme at my website.What’s unique about lettingfocus.com is that we offer you help as an independent property investors coach because unlike most people in the buy to let and property “advice” business we are not linked to a property company, a developer, an agent or bridging loan financier and do not receive commissions from any of these sources.Copyright: David Lawrenson 2008. This blog is updated once a week.
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Go to the bottom of this post, and click on “Link to this post”
Our home blog page should then open & you should then see my smiling profile. Then page down a bit and you come to where it says “Site feed” - click there and away you go.
You then just copy the link that comes up into your News Reader or News Aggregator. Even a non techie like me managed to do all this.
Please note if you are thinking of reproducing material here - that’s fine but we DO require the full links shown in each blog to be included including also the links in the section “ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON” Please contact us via the Contact US button at our main site http://www.lettingfocus.com/ if you have any queries about this.You then just copy the link that comes up into your News Reader or News Aggregator. Even a non techie like me managed to do all this.
Please note if you are thinking of reproducing material here - that’s fine but we DO require the full links shown in each blog to be included including also the links in the section “ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON” Please contact us via the Contact US button at our main site http://www.lettingfocus.com/ if you have any queries about this.
Well, just when you thought it was OK to come out of the bunker another set of bank execs shuffle into view to ‘fess up to the mess they have made of their banking business.
As the execs go back to Monaco or West Palm Beach to check on their bulging bank balances earned in the good times, you might be asking how that alters the picture on property and the optimal time to invest to bag the property bargains that are slowly starting to emerge.
As I have said before it all depends on what type of property you want to buy and where you are because the property market is not homogeneous and moves at different speeds in different areas.
But in general terms, the Lehman collapse and the problems at HBOS will result in the money markets taking fright again with the result that mortgage rates will go up.
Exactly how much they will go up will depend upon the extent of central bank intervention.
But even in the best case scenario I think that the bottom for house prices must now be pushed back by at least another 6 months.
This means that lowest achieved prices in most residential property markets will not be reached for at least another 12 months from now.
So that will give you a bit more time to do your research, get your finances in shape and plan where and what you are going to buy.
A good place to come and find out more is to my investor seminars.
OTHER OFFERS
My next Evening London Seminar and Networking meeting is coming soon – details here… Property Seminar and Networking. Just email us at david@lettingfocus.com and give us your full name – and that’s it. Then just turn up and pay (£25) on the night.
We are also delighted to advise that we will be exhibiting and speaking at The Property Investor Show – London, 19th - 21st September 2008, and would like to invite you to attend the show as our guest. If you are available on 19 - 21 September, please visit http://www.propertyinvestor.co.uk/london/register.asp. Simply type the promotional code S190770 into the relevant field and this will allow you to print off your free ticket to enter the show. (You will still need to pay to go into seminars)
I am speaking 4 times at this show – on my own and at a workshop with Designs on Property’s Kate Faulkner.
ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON
I’m David Lawrenson of property experts lettingfocus.com.
I’m the author of “Successful Property Letting - How to Make Money in Buy to Let” which for the last 3 years has been the UK’s top selling property title - buy the UK's top selling landlord book.
It is fully up to date with all the recent changes to tenancy deposit schemes, HMOs, licensing, capital gains taxes and it has new sections on buying property below market value.
I’m an expert property journalist, property speaker and a well known buy to let blogger
I contribute to newspapers and a host of property websites, write a number of columns in the press and I provide landlords training & education
I also work as a consultant helping banks, building societies, housing associations and web portals with their buy to let and property products and services and am a regular speaker at property shows.
You can read more of my blog & find details of my networking, advice, property training programme at my website.What’s unique about lettingfocus.com is that we offer you help as an independent property investors coach because unlike most people in the buy to let and property “advice” business we are not linked to a property company, a developer, an agent or bridging loan financier and do not receive commissions from any of these sources.Copyright: David Lawrenson 2008. This blog is updated once a week.
WANT TO BE KEPT UPDATED WITH OUR LATEST BLOGS?
It’s easy.
Go to the bottom of this post, and click on “Link to this post”
Our home blog page should then open & you should then see my smiling profile. Then page down a bit and you come to where it says “Site feed” - click there and away you go.
You then just copy the link that comes up into your News Reader or News Aggregator. Even a non techie like me managed to do all this.
Please note if you are thinking of reproducing material here - that’s fine but we DO require the full links shown in each blog to be included including also the links in the section “ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON” Please contact us via the Contact US button at our main site http://www.lettingfocus.com/ if you have any queries about this.You then just copy the link that comes up into your News Reader or News Aggregator. Even a non techie like me managed to do all this.
Please note if you are thinking of reproducing material here - that’s fine but we DO require the full links shown in each blog to be included including also the links in the section “ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON” Please contact us via the Contact US button at our main site http://www.lettingfocus.com/ if you have any queries about this.
Labels: buy property, buying property, HBOS, house price trend, landlord expert, Lehman
This entry was posted by lettingfocus, on
Wednesday, September 17, 2008.
