How the Dukes of Westminster Preserve Their Wealth For Centuries

Speaking from London's Sloane Square on how the aristocracy and Dukes of Westminster have preserved their wealth over century. Financial education is the key to building and keeping wealth. Never stop learning! Keep watching or listening to my free podcasts on iTunes and subscribe to my YouTube channel for regular financial news and updates. 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 and how some lose it all - Yes Money Can Buy You Happiness. We know exactly what the millionaire and billionaire habits and traits are, as success leaves tracks. All you need to do is follow their tracks to become wealthy and financially free! If you would like to learn more about investing and managing your money, become a professional property investor, or would like to be financially free without working any harder, watch this free on demand training. I will give a special free gift which can help you to immediately transform your finances when you attend the online training. Click on this link to watch the free training now https://bit.ly/3wLWqx2 Book now as spaces fill up fast...

Buy-to-Let Rents Soar As UK Economy Recovers

Buy-to-Let Rents Soar As UK Economy Recovers

Residential rents in UK are rocketing after a downturn in 2020, Zoopla reports.

Yesterday, I reported that the mortgage price war was driving up UK property prices to record levels - up 7% on August 2020.

Barclays offering a 2-year fixed rate mortgage at just .97%!

London offices busy again as staff return to work, with London Transport reporting a 20% jump in passenger numbers.

£36 Billion Tax Hike, London Property Market Busy As Offices Fill Up

Boris Johnson plans to raise £36 billion with higher taxes to ‘fix’ social care and the NHS.

New dividend tax could hit shares and stock market, as well as pension and investment funds.

Savers and property owners will be hit with taxes and have to pay for care.

Staff shortages hitting businesses.

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Staff shortages in UK could leave supermarket shelves empty by Christmas 🎄

Staff shortages in UK could leave supermarket shelves empty by Christmas due to lack of HGV lorry delivery drivers. Tesco offering a £1000 'golden hello' bonus to drivers!

Yes, you can still find high yielding properties in London.

Property News I just viewed a £400,000 2 bed flat in Holland Park, Kensington, London W11 with a rental 5% yield. If you would like to learn more about investing and managing your money, become a professional property investor, or would like to be financially free without working any harder, watch this free on demand training. I will give a special free gift which can help you to immediately 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

Is the property market about to crash?

Did you know that professional property investors make money whether the market is rising or falling?

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London £1 million Property Glut As UK Market Stagnates

London estate agents are seeing a glut of properties on the market priced at over £1 million plus. The market is even slower at the £3-5 million level following higher stamp duty and less foreign buyers. 

Oliver Reed's old house was once on the market for £12 million in 2009

In some cases properties have been on the market for several years and the price of the late actor Oliver Reed’s Surrey mansion has been slashed by £10 million! 

The 12-acre estate set in the beautiful Surrey Hills was once up for sale for £12 million in 2009, but the price-tag has been gradually reduced since. In 2016, the six bedroom, five bathroom house was marketed it for £4.95m and is now for sale by auction at a guide price £2.6 million via Allsop.

Brexit uncertainty is being blamed for the slowdown in the UK property market and this month has seen the first annual fall since 2009. Buy-to-let landlords have bee deterred from investing in property by recent tax hikes and tighter mortgage rules. 

If you would like to learn more about property investment and attend a seminar, I have a limited supply of complimentary tickets for an event with a leading training provider - email me charles@charleskelly.net.

Check out my Podcast episode "London £1 million Property Glut As Market Stagnates" from Money Tips Daily by Charles Kelly, former IFA and author of on Anchor: https://anchor.fm/charles-kelly/episodes/London-1-million-Property-Glut-As-Market-Stagnates-e1lh5m

Check out my Podcast episode "Leasehold Property Is A Legal Landmine, Read This Before You Buy" on Anchor! https://anchor.fm/charles-kelly/episodes/Leasehold-Property-Is-A-Legal-Landmine-So-Be-Wary-e16oof

Previous articles:

The Reason Why Property Is The Best Investment

UK House Prices Fall Leaving First-Time Buyers And Buy-to-Let Investors Wondering Where The Market Is Heading

New HMO Letting Rules Could Drive Landlords Out Of The Buy-To-Let Property Market

Leasehold properties are a legal minefield

UK Government To Change Visa Rules For Doctors And Nurses

UK House Prices Fall Leaving First-Time Buyers And Buy-to-Let Investors Wondering Where The Market Is Heading

The subject of house prices and getting on the ‘property ladder’ is never far from the conversation in London. The news that prices fell for the first time in six months in February, might offer a glimmer of hope for first time buyers and potential buy-to-let investors looking for a better return on their money than the measly rates the banks are offering.

The Nationwide index revealed a 0.3% month-on-month fall taking the average UK house price to £210,402, down from £211,756 in January. This marks the first time since August 2017 that house prices have fallen month on month.

The Telegraph reports the unexpected dip came after house prices grew faster than expected in January, due to a lack of supply in the property market which kept competition between buyers high.

Annual house price growth has fallen to 2.2%, Nationwide said. The building society's chief economist said that while month-to-month changes can be volatile, the slowdown is "consistent with signs of softening in the household sector in recent months".

Mr Gardner said Brexit and the economy will be key to the housing market's performance in the year ahead – doesn’t take an economist to work that one out! "We continue to expect the UK economy to grow at modest pace, with annual growth of 1% to 1.5% in 2018 and 2019. Subdued economic activity and the ongoing squeeze on household budgets is likely to exert a modest drag on housing market activity and house price growth," he said.

In layman’s language, the economy and market will be slow, although “experts” and economists have been predicting economic doom and gloom since the EU referendum.

Bear in mind that most of the commentators are lenders (like the Nationwide) and estate agents who have a vested interest in maintaining a healthy property market and obviously don’t want to scare the horses.

Estate agent and former RICS Chairman Jeremy Leaf said that, as one of the most closely-watched indicators of property market strength due to its longevity and accuracy, Nationwide’s figures may "cause concern" – an estate agent’s term for “worried”.

He added that at this time of the year there should have been an increase, not a fall, in house price growth.

Sam Mitchell, CEO of online estate agents HouseSimple.com added that while the housing market isn't about to suffer a "full blown crash", we have some "tough months ahead and a lot of hard negotiating between buyers and sellers if the market is to get back on track".

Nationwide’s index covers the whole country, which is showing a modest slow down. However, new figures from Acadata this week report much steeper price falls in the capital, where the market is a world apart from some parts of the country where prices have been stagnant since 2008. 

The data firm said London prices dropped 4.3% in the year to January, the biggest fall since August 2009. 

London prices have been slowing for quite a while, partly brought on by a sharp increase in stamp duty on more expensive properties and less foreign buyers, but also because the affordability gap for young first-time buyers had widened beyond ordinary people’s reach.

The price-to-earnings ratio is now around 10 times average salaries, making London one of the most expensive and difficult places for people to get on the property ladder. 

The rental market remains strong, but thousands of landlords have been deterred by recent tax changes which will dramatically reduce their net earnings from but-to-let properties. Tough new rules on HMO lettings coming in this autumn will be another blow to landlords.

What does this all mean for buyers and investors and where are property prices going? The answer is, nobody really knows for sure. The more experts you listen to, the more confused you will become!

There is still a massive shortage of homes in the UK and the Prime Minster Theresa May announced measures to force builders to build more homes faster and not sit on land. But with interest rates on the rise and mortgage lending rules tightening, the market is hardly set to boom for the foreseeable future.

For investors, this could be a time to look for deals. For first-time buyers, this is good news and a more room for negotiation.

Check out my Podcast version, "UK House Prices Fall, What Does This Mean For You?" on Anchor! https://anchor.fm/charles-kelly/episodes/UK-House-Prices-Fall--What-Does-This-Mean-For-You-e15m1o

Previous:

Leasehold Properties Are A Legal Minefield, Read This BEFORE Buy A Flat

New HMO Letting Rules Could Drive Landlords Out Of The Buy-To-Let Property Market

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