Is Retail On The High Street Dead? NO! Here’s Why

Is Retail On The High Street Dead? NO! Here’s Why I Think It’s Very Much Alive

High street retail has going through a tough time in recent years with hundreds of stores closing, but here’s why I think there is still a place for physical shops for many years to come.

Even with the rise of Amazon and other online retailers 85% of retail sales are still made offline. Over 20% of stores are not even fully engaged online.

In a strange twist, Amazon and other online retailer are opening offline stores in the high street and malls!

Apple has huge flagship stores in London and other major cities.

Online retailers Gymshark and The Fashion Bible are also set to open large flagship ‘bricks and mortar’ stores in prime retail space next year. Gymshark, which only started online ten years ago, is opening an 18,000 square foot store in London’s Regent Street, one of the most expensive and sought after retails real estate areas in the world.

Just down the road, London’s luxury department store group Selfridges is being sold to a Thai conglomerate for up to £4bn.

The famous UK retailer owns 25 outlets, including the enormous flagship store covering a whole block in prime position on London's Oxford Street, and branches in Dublin, the Netherlands and Canada. The iconic store was founded in 1908 by US retail magnate Harry Gordon Selfridge and featured in an ITV television drama.

Current owner, the billionaire Weston family, agreed sale terms with Central Group in the last few days, according to the Times and BBC.

Central Group was started in Bangkok in 1956 and is still a family-owned group. The business has been taken global by the founder's son, Samrit Chirathivat, and now boasts 3,700 shops around the world, from supermarkets to electronics outlets, and department stores in Europe.

How will Amazon, Gymshark and The Fashion Bible prosper where the likes of Debenhams died after over 100 years of successful trading?

The answer is twofold.

Firstly, Debenhams, and other stores like Gap and House of Fraser, had lost their way and failed to stay current. This can happen in mature businesses which lack innovation and do not change with the times.

Secondly, and more importantly, online retailers have a massive advantage over traditional bricks and mortar shops. They know their customers!

Amazon knows everything about its customers like me, whereas most shops I walk in and out of know absolutely nothing. Even when I buy something they have no record of me other than a card transaction.

Unless stores change their ways and start engaging with their customers and potential customers they will face a tough time ahead. But those who adapt, like Argos and Next who combine online with offline sales, will survive in the business war for our money.

If you are a retail business owner and need help getting online, contact me – charles@charleskelly.net

Average House Prices Continue To Rise

The annual growth of an average home in the UK rose slightly to 10% in November, up form 9.9% on the previous month, according to the Nationwide Building Society’s data.

FREE PROPERTY WEBCLASS - https://bit.ly/3DlSlCL

Stock Markets Volatile As New Covid Restrictions Introduced

Markets were down again today after rallying from earlier losses, as uncertainty fears could stall economic recovery.

RPI UK Inflation Rate Hits 6%

The inflation rate as measured by the Retail Prices Index (RPI) is 6%, but the new measure of inflation, the Consumer Prices Index (CPI), stands at 4.2%. Most of us know that real prices are rising much faster than the official rate. Fuel and gas prices have doubled for some and many will face a hard winter.

Could UK Interest Rates Rise?

The Bank of England’s Monetary Policy Committee (MPC) meets on 16 December amid rumours that base rates could rise to curb rising prices.

Financial education in investing is the key to building and keeping wealth. Never stop learning!

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I cover financial education and money mindset in my book, 'Yes, Money Can Buy You Happiness", which you can order on Amazon: https://www.amazon.co.uk/Yes-Money-Can-Buy-Happiness/dp/1095175858

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8 DECEMBER

The Property Investing Secrets webclass is designed by top industry investing trainers to bring you 120 minutes of content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.

What to Expect

• You will learn multiple Proven Investing Strategies
• You will be guided through the most effective cashflow and equity growth strategies that are working right now in 2021.
• Learn how to get UNLIMITED finance to build your portfolio (hint: you can do this WITHOUT using either a mortgage company OR a bank).
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Benefits of Property Investing Secrets

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Risks Of Buying Property Off-Plan, People’s Bank Of China Announcement o...

Risks Of Buying Property Off-Plan, People’s Bank Of China Announcement on Evergrande Crisis

The Chinese government has calmed fears that Evergrande could be allowed to fail and risk world economic recovery.

On Monday, without actually mentioning Evergrande, China's central bank promised to protect consumers exposed to the housing market.

The announcement by the People's Bank of China has been seen as a sign that authorities are ready to take steps to prevent the potential catastrophe of Evergrande’s crisis spreading to other parts of the economy.

Evergrande has debts of around $300 billion to national and international creditor including bondholders and 171 domestic banks plus 121 other financial firms. There are also over a million customers who have paid for properties yet to be built and thousands of supplies and staff.

If the company is allowed to fail it could bring down banks and cause a credit crunch squeeze on lending similar to the 2008 global financial crisis.

China’s economy matters to the rest of the world, as it drives demand and spending. For instance, a slowdown in construction alone would hit Australia’s exports of Iron Ore, which represents a large part of it’s currently locked down economy.

This week, Goldman Sachs became the latest bank to downgrade China’s growth forecast from 8.2% to 7.8%.

Chinese buyers have also been scooping up overseas property everywhere from London to Manila, Sydney, Auckland and Toronto where prices have hit all-time highs this year.

Much of China’s massive growth appears to have been funded by huge amounts of debt, something which the government has attempted to reign in recently. This has forced property companies to tighten their belts and the first problem to come to light is the biggest of them all Evergrande.

The conglomerate has 1300 projects in 300 cities spread across the country. Desperate property buyers have been demonstrating outside Evergrande’s offices. Many have invested their life savings and now fear they many never see their money, or the apartment they bought ‘off-plan,’ again.

Buying property off-plan can be risky. Whilst you might think you are getting a ‘below market value’ deal, you are taking the developers word that the finished property, usually a high-rise apartment, will be worth more than you have paid for it several years down the line.

You are also relying on the builder’s ability to finish the project, as well as quality and ongoing management.

Developers normally retain control of the freehold and management of the building and will enjoy residual income from often unfair management charges for the lifetime of your lease.

Buying off-plan properties abroad is especially risky in countries where you don’t understand local laws and taxes.

People often fail to use a lawyer when buying and overseas property, something they would never do at home!

The key to any investing is education or knowledge, something you were not taught in school!

Would you like to learn more about property investing and earning extra cash from property using none of your own money?

Join A Free Property Event

Live Online Property Networking Meeting Sunday 3 October 7PM - Click here to register: https://bit.ly/3zvaBHR

Master your property investor networking skills as the world moves back to normal! Discover how to create and develop relationships in the property world and maximise your portfolio.

In today’s marketplace, businesses that are operating in the same industry are classed as competitors. But in the world of property, it is the complete opposite.

Fellow property investors are your allies, your motivators, potential JV partners, private funders and more importantly, your reliable support network.

Join great speakers and property investors online at 7:00PM on Sunday 3rd October 2021

Click here to register: https://bit.ly/3zvaBHR

10,000 Visas For Drivers And Poultry Workers Won't Fix Food And Fue...

10,000 Visas For Drivers And Poultry Workers Will Not Solve Food And Fuel Shortages

The government’s widely anticipated emergency programme to issue temporary visas to up to 5,000 lorry drivers is not enough to fix Britain’s food and fuel supply-chain crisis and is unlikely to attract workers to the UK, haulage chiefs have warned.

Ministers on Sunday announced rushed plans to add 5,000 HGV drivers and 5,500 poultry workers to a visa scheme until Christmas.

Marco Digioia, the head of the European Road Haulers Association representing more than 200,000 trucking companies across the continent, told the Observer that “much more would be needed” than a temporary relaxation of immigration rules. “There is a driver shortage across Europe,” he said. “I am not sure how many would want to go to the UK.”

With staff shortages in other EU countries, such as Germany, attracting people to come and work in the UK for three months will prove a challenge.

The temporary work permit scheme will not resolve the estimated UK shortage of around 100,000 drivers. Setting up the visa scheme and recruit and training and approving the drivers could take several weeks, if not months, and there is also a shortage of 400,000 drivers in Europe.  

The government ruled out deploying HGV driver from the Armed services, which would have provided immediate relief.

Although there are over a million people unemployed in the UK, most will not be licensed to drive heavy goods vehicles. More funding is needed to provide training and support to recruit staff locally.

There are 5 million people on universal credit benefit and 600,000 still on the job retention furlough scheme until the end of September – employers are paid by taxpayers to have staff sitting at home months after the economy has reopened.

Would you like to learn more about property investing?

Free Property Event

Live Online Property Networking Meeting Sunday 3 October 7PM

Master your property investor networking skills as the world moves back to normal! Discover how to create and develop relationships in the property world and maximise your portfolio.

In today’s marketplace, businesses that are operating in the same industry are classed as competitors. But in the world of property, it is the complete opposite.

Fellow property investors are your allies, your motivators, potential JV partners, private funders and more importantly, your reliable support network.

Join great speakers and property investors online at 7:00PM on Sunday 3rd October 2021

Click here to register: https://bit.ly/3zvaBHR

Where Is The Cheapest Property In The UK Listed On Zoopla?

Where Is The Cheapest Property For Sale In The UK?

The Daily Mirror reports that the cheapest property in the UK listed on Zoopla is a £35,000 two bedroomed house in Hartlepool, County Durham. The house in the Northeast of England looks like a bargain, but there are cheaper properties.

Zoopla has a studio flat in Bradford listed for just £5000 and cheap properties are also listed in auction catalogues.

The average price of a home according to the Land Registry is £265,668, so why the disparity?

There is an 8-bed terraced house in London’s Belgrave Square, Belgravia listed for £77,500,000 and more expensive home have been sold privately!

The adage “location, location, location” accounts for most of the price differential across the country, but there are other reasons why apparent bargain properties come on the market, especially in auctions:

·        Defective construction

·        Movement or subsidence to foundations

·        Defective titles

·        Defective leases

·        Un-mortgageable properties

Buyers should beware and make their own checks and legal enquiries.

See also: average houses prices falling after the rush to beat the Stamp Duty Holiday - https://youtu.be/O4SSsJ0sRt4.

Millionaires and millionaire habits have been studied and documented at academic levels for the last hundred years. Bestselling books, like The Science of Getting Rich and Thinks and Grow Rich, were written almost a century ago. I have also published my own book on how people get wealthy: Yes Money Can Buy You Happiness. You can find it on Amazon: https://www.amazon.co.uk/Yes-Money-Can-Buy-Happiness/dp/1095175858

We know exactly what the millionaire and billionaire habits and traits are, as success leaves tracks. All you have to do is follow their tracks to become wealthy and financially free!

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Average House Prices Falling For The First Time In 2021 But Will Propert...

Average House Prices Falling For First Time In 2021 But Will Property Crash?

House prices have fallen for the first time this year, according to property website Rightmove, but does this mean we are heading for a market crash?

The website reports that the “average price of property coming to market in August fell 0.3%”, which is a small drop of £1,076, to £337,371.

The property market slowdown follows the ending of the stamp duty holiday and a subsequent fall in demand for bigger homes.

"Average prices have only fallen in the upper-end sector," said Tim Bannister, Rightmove's director of property data.

First-time buyers and second-stepper properties are still in demand, leading to new record high average prices in those sectors, he added.

Rightmove figures revealed a 0.8% drop in the four-bedroom-plus sector, but new record price highs in the two-bedroom sector, up by 0.6%, and three to four bedroom second-stepper-type properties, up by 0.3%.

Summer holidays normally lead to a slowdown in activity in August, experts pointed out, with many anticipating a slackening in demand. Source: BBC and Rightmove.

The small property price falls, based on new houses coming onto the market, do not yet indicate a market crash. Minor price fluctuations could be seasonal or influenced by a post-stamp duty holiday slowdown.

Property investors should see a return to a more normal buyers property market in the coming months. I am definitely noticing more price reductions and properties coming back on the market after a sale fell through.

However, markets, like the bond and stock markets, are not always rational and frequently react to external events, such as a war or political instability in the Middle East.

The actual figures based on sold properties for the current period will be revealed in official Land Registry data later this year.

Professional property investors make money in property in any market – UP, DOWN or SIDEWAYS! You can make money in property if you know how, and you do not even need to use your own money. You can start with zero capital using many of the ‘no money down’ strategies.

Would you like to learn more about making money from property?

Click HERE for free updates, courses and webinars on how to become a professional property investor in your spare time using other people’s money.

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Which are the least affordable cities to buy a home in the UK? Its not G...

Which is the least affordable city to buy a home in the UK?

According to Britain’s biggest lender, the Halifax Bank, Winchester is the least affordable city to buy a home in the country.

Its figures suggest buying a home in the Hampshire commuter city will cost 14 times average earnings, higher than Greater London at 11 times. Central London would be much higher.

Typically, buying a property in a UK city will now set buyers back 8.1 times their average earnings, up from 5.6 times a decade ago.

House prices have "generally continued to outstrip wage growth", said Halifax managing director Russell Galley.

Winchester has leapfrogged Oxford as the least affordable city in the annual survey, while Londonderry is the most affordable for the third year in a row.

In the Northern Ireland city, a home will cost 4.7 times average earnings.

Over the past year, the Halifax reckons the average house price in UK cities has grown by 10.3%.

Its analysis of figures from the Office for National Statistics suggests average earnings for people living and working in cities climbed just 2.1% over the same time period.

Average city house prices increased to £287,440, while comparable average earnings rose to £35,677.

Surprisingly, cities are slightly more affordable than the average for the UK as a whole, according to the figures.

But that may partly reflect more people moving out of cities in search of more space during the pandemic.

A home in Winchester will now set buyers back an average £630,432, up 8% in the last year.

That leaves it with the highest average house prices of any UK city, ahead of St Albans at £604,423 and London at £564,695.

The least expensive average house prices among cities are in Londonderry at £155,917 and Hull £156,924.

Average earnings in Winchester are £45,059, higher than for the UK as a whole and only beaten by St Albans at £59,391 and Greater London at £51,257.

Where can you find more affordable places to buy a property?

There is some good news: in one in nine UK cities, property has become more affordable in the last 12 months.

Housing affordability improved in seven cities compared with a year earlier: Oxford, Carlisle, Portsmouth, Durham, Salford, Inverness and Glasgow.

According to the figures, Carlisle and Aberdeen are now more affordable than five years ago, while Inverness is the only city more affordable than 10 years ago.

An average home there costs 5.6 times average earnings, down from 6.2 in 2011, as wage growth there has outstripped house price growth.

"Affordability is significantly better in the North and there are now just two cities - Plymouth and Portsmouth - with better-than-average affordability in the South," said Mr Galley.

The top 20 least affordable cities in 2021

(Figures show the price-to-earnings ratio followed by the average house price and average annual earnings. Source: the Halifax)

1. Winchester, South East, 14.0, £630,432, £45,059

2. Oxford, South East, 12.4, £486,928, £39,220

=3. Truro, South West, 12.1, £356,788, £29,558

=3. Bath, South West, 12.1, £476,470, £39,508

5. Chichester, South East, 10.6, £446,899, £37,352

6. Cambridge, East Anglia, 11.9, £482,300, £40,492

7. Brighton and Hove, South East, 11.6, £449,243, £38,737

8. London, South East, 11.0, £564,695, £51,257

=9. St Albans, South East, 10.2, £604,423, £59,391

=9. Chelmsford, South East, 10.2, £424,690, £41,781

11. Salisbury, South West, 10.0, £392,355, £39,154

12. Exeter, South West, 9.9, £323,554, £32,635

13. Leicester, East Midlands, 9.7, £279,080, £28,725

14. Hereford, West Midlands, 9.7, 316,929, 32,839

15. Norwich, East Anglia, 9.4, £306,946, £32,632

16. Bristol, South West, 9.3, £346,902, £37,357

=17. Southampton, South East, 9.0, £310,435, £34,429

=17. Canterbury, South East, 9.0, £365,168, £40,565

=17. Gloucester, South West, 9.0, £287,600, £31,987

20. Worcester, West Midlands, 8.8, £303,132, £34,389

The top 20 most affordable cities in 2021

(Figures show the price-to-earnings ratio followed by the average house price and average annual earnings. Source: the Halifax)

1. Londonderry, Northern Ireland, 4.7, £155,917, £33,138

=2. Carlisle, North, 4.8, £163,232, £34,087

=2. Bradford, Yorkshire and the Humber, 4.8, £164,410, £34,219

=4. Stirling, Scotland, 5.4, £208,927, £38,744

=4. Aberdeen, Scotland, 5.4, £205,199, £38,016

=4. Glasgow, Scotland, 5.4, £196,625, £36,205

7. Perth, Scotland, 5.5, £203,229, £36,700

=8. Inverness, Scotland, 5.6, £191,840, £34,373

=8. Hull, Yorkshire and the Humber, 5.6, £156,424, £27,730

10. Dundee, Scotland, 5.8, £181,150, £31,344

11. Sunderland, North, 6.0, £179,567, £29,745

12. Lisburn, Northern Ireland, 6.1, £203,386, £33,138

=13. Salford, North West, 6.2, £211,903, £34,444

=13. Durham, North, 6.2, £196,274, £31,762

=13. Liverpool, North West, 6.2, £215,741, £34,911

=13. Belfast, Northern Ireland, 6.2, £205,228, £33,138

=13. Lancaster, North West, 6.2, £217,392, £35,004

18. Newcastle-upon-Tyne, North, 6.3, £229,434, £36,212

19. Stoke-on-Trent, West Midlands, 6.5, £200,161, £30,698

20. Edinburgh, Scotland, 6.8, £285,605, £42,245

(Source BBC).

The report shows further evidence of an exodus from London and the larger cities following the pandemic. Thousands of people are now working from home so commuting hundreds of miles is not an issue for the time being.

However, if employers start asking staff to return to the office in the City of London commuting from Devon and Cornwall will be a challenge!

With the rush to beat the stamp duty holiday now over property prices are starting to cool. Property investors should see a return to a more normal market in the coming months. I am definitely noticing more price reductions and properties coming back on the market after a sale fell through.

You can make money in property in any market if you know how, and you don’t even need to use your own money. You can start with zero capital using many of the ‘no money down’ strategies.

Would you like to learn more about making money from property?

A property expert friend of mine is running a web class on 18 August.

The Property Revolution Summit Web Class Experience is designed by top investing trainers to bring you 120 minutes of valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty property portfolio from the ground up.

To register for the free web class from anywhere in the world click the link: https://bit.ly/2VLDCBd

Mastering Money The S.M.A.R.T Way Lesson #3

Exclusive free training for my Money Tips Podcast followers!

 

Welcome To The Course, Mastering Money The S.M.A.R.T Way Without Working Any Harder! Lesson #3

 

MANAGE AND RESPECT YOUR MONEY

 

By the end of this module, you will learn how to manage and respect your money and make informed investment decisions to become a SMART MONEY MANAGER.

You can’t manage your finances without the right financial information.

Managing money, like managing your household, must be worked on throughout your life like exercise or washing. You cannot expect to stay in shape if you only exercise once a year!

What does managing your money mean?

Managing could be defined as control, influence or taking charge. An example of managing finances well is having enough put aside to be able to pay your bills despite a job loss.

 

Question

 

If you lost your job, for how long could you manage and pay your bills?

 

During a financial crisis or recession, millions of people lose their homes within months of being made redundant.

 

They have no savings. Instead, they have rent or mortgage payments, credit cards, car lease payments and loans. In short, most people live on a knife edge and are no more than three salary payments from bankruptcy.

 

Rainy-day money

 

You must have an emergency contingency fund so that you are not dependant on credit cards or instant payday loans when the car or washing machine breaks down.

 

Some well-known payday lenders charge as much as 91% APR (annualised percentage rate) for small unsecured loans, according to Payday UK’s website.

 

Borrowers do not realise they are paying an annualised 91% because they are paying off the loan in less than a year.

 

Payday UK quotes the following example:

 

“Representative Example: Borrow £500 for 6 months. Interest: £160.27 - Interest rate: 65% per annum (fixed). Representative APR: 91% - Total amount payable: £660.27. Rates between 9.3% APR and 1294% APR”.

 

Even high street banks are charging as much as 40% for a temporary overdraught – 400 times the base rate!

 

UK base interest rates are 0.1%, the lowest it has ever been in history.

 

If a lender is charging you 3% on your mortgage, that is 40 x the 0.1% the base lending rate on which they can borrow money from the markets and us depositors. I have never seen such a high margin.

 

Mortgages used to cost around 2% over base lending rates, so when the base rate was say 8%, you would typically pay 10% on a mortgage – or a margin of 1.25 over base lending rates.

 

Solution.

 

Make sure you have a contingency fund for emergencies, so you don’t have to rely on loan sharks.

 

If you do need credit, search for cheaper alternatives online or try credit unions.

 

You should have reserves equivalent to 6 to 12 months’ salary in the bank in case you lose your job or source of income. Large companies, government and local authorities hold millions of reserves. They also have a ‘disaster recovery’ plan in place.

 

You cannot possibly manage or control your finances without data, which means knowing exactly how much money is coming in and going out.

 

Managers cannot manage a company without accurate management information and your household is no different.

 

Think of yourself as a business or corporation even if you work for somebody.

 

You are the CEO of your own business.

 

Hold monthly, quarterly and annual board meetings with your family, even you’re the only director!

 

Set up a system to keep a track of your revenue and costs.

 

What does “respecting” money mean?

 

Respect money and it will respect you. The author and speaker Joe Vitale, who was featured in the movie The Secret, advises that “money has its own psychology” and “energy”, which you can either attract or block depending on your mindset.

 

Energy does not die; it moves around and changes form. Similarly, money circulates and helps multiple people and causes.

 

Think about it. Let's say you give $10 to a friend to pay his cleaner. His cleaner then uses the same $10 to pay for shoe repairs, the repair guy takes the same $10 to buy lunch and coffee at Starbucks.  Starbucks bank the cash. Your friend goes into the bank to draw cash out to repay you and gets the same $10 note and gives it back to you. How many things has that same $10 bought?

 

Right now there are trillions of dollars in circulation.

 

Author Brian Tracy gave me a simple idea at one of his seminars in America. The great speaker said: “You should respect money and even look after the cash in your wallet or purse by placing each dollar bill neatly and in order of value, with the President’s head facing the right way”. This might sound silly, but Brian went on to say that whenever he met someone who had money issues, their money would be stuffed into their pocket or purse like crumpled pieces of worthless paper. It was a metaphor for the way they treated money, and ultimately the way money treated them.

 

Respecting money is like respecting others, treating it well, nurturing it, looking after it and always taking care of it.

 

I had a school friend, Malcolm, from a well-off family who would casually throw away penny coins from his pocket saying they were “dirty” and “worthless”.

 

His lack of respect for money led to Malcolm being broke and living week-to-week for the rest of his life - even when he was earning well.

 

I had a habit of picking up “dirty” coins, which I retain to this day. The late Wayne Dyer also picked up coins and gave thanks for the blessing of money before putting them in a big jar.   

 

Look after your money and it will look after you.

 

If you enjoying this and find it helpful, please like and share with your friends and follow me on social media to give more people free value.

 

Education is key.

 

Lack of financial education can be extremely costly of your lifetime.

 

For instance, not understanding how high management charges on mutual funds or pension schemes can affect the value of your portfolio – which could cost you hundreds of thousands.  

 

Buying a house is probably the biggest financial transaction most people make in their lives, yet few people understand mortgages. They borrow hundreds of thousands and sign on the dotted line without reading the terms and conditions.

 

I have met extremely intelligent academics, scientists and directors running huge companies who did not know how to manage their personal finances and in some case made costly financial errors or retired broke.

 

Finance is not taught in schools, which is why we graduate from formal education financially ignorant. We rely on financial advisers to tell us what to do, but where do the advisers get their financial education? The answer is, from financial industry led courses. Anybody can take these financial adviser courses!

 

Take a financial adviser course.

 

You can take a basic financial adviser course without becoming an adviser. The knowledge I gained from the courses to become a regulated adviser have been invaluable to me throughout my life.

 

The courses taught me about saving and investing, but more importantly, borrowing money and using the infinite benefits of leveraging 'other people's money'.  

 

This knowledge has literally been worth millions to me over the years.

 

A short home-study financial course could be worth more in money terms than a university degree.

 

Never stop learning.

 

The world of finance is constantly changing and evolving. Keep yourself up-to-date by reading the financial pages of quality newspapers and magazines online or use your local library. It only takes a few minutes each day to scan the financial news, or an hour at the weekend to read the money pages, but this small investment will pay exponential dividends and perpetual returns for the rest of your life.

 

Summary Day 3

 

Managing and respecting money, and learning about the world of finance, is a lifelong process like looking after your health.

 

Action Steps

 

·        Think about how you manage your money.

·        Start recording your monthly income and expenditure.

·        Calculate how long you can survive if your income dried up.

·        Start saving for emergencies and have a disaster recovery plan.

·        Start building up a fund to cover 6–12 months of essential expenditure.

·        Organise and respect your money.

·        Educate yourself in all aspects of personal finance.

·        Take a course or read books.

·        Read the financial news.

·        Never stop learning and updating your knowledge.

 

Thank you for listening and congratulations on completing this module. In the next module, we will be looking at how to accumulate money over time.

 

If you would like to learn how to invest and manage your money, become a professional property investor, and be financially free without working any harder and spending your life exchanging your time for money watch this free on demand training now to learn how to become financially free without working any harder.

 

As a thank you, I will give a special free gift which can help transform your finances when you attend the online training.

Click on this link to watch the free training now https://bit.ly/3wLWqx2

Check Out London’s Property Sales 2021 Hotspots

What Are The London Property Sales Hotspots?

The London boroughs of Camden and Barnet top the 2021 property sales hotspot table, report says.

Around £70bn of property has been snapped up by UK buyers this year fuelled by government incentives, such as the Stamp Duty Holiday and the furlough scheme which ends in September.

London postcodes Camden and Barnet were the most valuable sales areas, with Brighton in eighth place and the only location outside the capital, according to Mortgage Solutions. 

Watch Video version.

Estate agent Keller Williams UK analysed sold prices across the market in England and Wales since the start of the year and reports residential property sales reaching £68.8bn.

Higher property prices in the capital saw London lead the table. Property sales in Camden and Barnet alone reached £262.5m, with Merton and Wandsworth in SW19 hitting £248.8m. Kensington and Chelsea’s W8 postcode came fifth at £225,963,338.

However, the only top ten postcode outside London is BN3 postcode in Brighton and Hove, which has seen £206m worth of homes sold since the start of the year, making it the eighth-most valuable property postcode across England and Wales and the most valuable outside of London.

The popular seaside town of Brighton made the list (£157m), and was the only one on the list outside the capital.

The SL6 postcode in Maidenhead (£169.7m), the Dorset postcode of BN2 (£157m), SO41 in the New Forest (£125.9m), the Manchester postcode of WA15 (£120.7m), Southend’s SS9 postcode (£118.5m), BA2 in Bath (£117.1m) and Horsham’s RH12 postcode (£112.3m). Further evidence that buyers are seeking more space and fresh air, especially when given the option of working from home. Source: MortgageSolutions.co.uk

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Breaking Property News! Renting A Home Is Cheaper Than Buying For First ...

Renting A Home Is Cheaper Than Buying For First Time In 6 Years

With low interest rates and high rents, it has long been assumed that it is cheaper to buy than rent. But the tide has turned thanks to soaring house prices and lower rental demand, especially in the city centres.

According to leading estate agents, Hamptons, it has become cheaper to rent a property than buy a home for the first time in more than six years.

The estate agency research reveals that prior to the pandemic in March 2020, people buying with a 10% deposit would have been £102 a month better off than renters.

Last month, figures showed that the average private sector tenant was paying £71 a month less in rent.

This applies across the UK apart from four areas where it is still cheaper to buy than rent: the North East, North West, Yorkshire and Humber, and Scotland.

In May last year, rental demand dropped as younger adults and European workers returned to live with their families during the pandemic and work and leisure restrictions made city living less attractive.

Back in early 2020, it was cheaper to buy than rent in every region in the UK.

London's sees the biggest shift since the start of the coronavirus pandemic.

Hamptons reports a 7.1% rise in average rents over the past 12 months, but also a strong house price growth coupled with increases in higher loan-to-value (LTV) mortgage rates have added to the cost of buying and owning a home.

This means a typical first-time buyer will find it cheaper to rent than buy on a monthly basis, with a monthly average of £1,054 spent on rent compared with £1,125 on mortgage repayments - the first time since December 2014 that renting has been cheaper than buying a home.

Plummeting rents there mean a buyer putting down a 10% deposit on a property in the capital will have gone from being £123 a month better off buying in March 2020, to spending £251 a month less on rent in May 2021, the report said.

There are many other financial and practical factors which potential first-time buyers will consider when deciding to rent rather than buy, or vice versa, which are not captured in this research.

In the long term, it is nearly always better to buy than rent. Rents will rise over time, whereas mortgages are paid off with ever devaluing paper money.

Buyers do pay for repairs and maintenance, but will benefit from long term growth and future equity in their property.

One major reason private renters want to buy is the long term security of tenure. Fear of buy-to-let landlord eviction, for instance when they want to sell the property, is obviously stressful for tenants.

Where and by how much is it cheaper to rent, than buy?

·        Greater London - £251 cheaper

·        South East - £54 cheaper

·        South West - £108 cheaper

·        East - £117 cheaper

·        East Midlands - £98 cheaper

·        West Midlands, £35 cheaper

·        Yorkshire and the Humber - £5 more expensive

·        North West - £4 more expensive

·        North East - £72 more expensive

·        Wales - £11 cheaper

·        Scotland - £130 more expensive

Source: BBC, Hamptons

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