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The Property Investor' Blog

Property Investor’s FactFile – March 2019

Contents (ShowHide)

National Property Prices

National Property PricesNational Property Prices - March 2019

London Property Prices

London Property Prices - March 2019London Property Prices

Monthly House Price Changes

Monthly House Price ChangesMonthly House Price Changes

LIBOR Data

LIBOR Data - March 2019LIBOR Data - March 2019

SWAP Rate Data

SWAP Rate Data - March 2019SWAP Rate Data

Private Rented Sector (PRS) – Rental Price Growth

Private Rented Sector (PRS) - Rental Price Growth - March 2019Private Rented Sector (PRS) - Rental Price Growth

Private Rented Sector (PRS) – Growth Index

Private Rented Sector (PRS) - Growth Index - March 2019Private Rented Sector (PRS) - Growth Index

Total Mortgage Approvals

Total Mortgage Approvals - March 2019Total Mortgage Approvals

First Time Buyer – Affordability Measure

First Time Buyer - Affordability MeasureFirst Time Buyer - Affordability Measure

First Time Buyer – Gross House Price to Earnings Ratios

First Time Buyer - Gross House Price to Earnings RatiosFirst Time Buyer - Gross House Price to Earnings Ratios

Commentary by Ruban Selvanayagam

Considering most of us shrug our shoulders when trying to understand the real implications of Brexit on our day-to-day lives, fathoming the ongoing direction of the property market at the moment is an even more challenging proposition.

The reality of failed predictions was no more highlighted when wide economic forecasts of a post-referendum house price crash failed to come into fruition.  The leading post-Brexit house price indices have all demonstrated that values have remained broadly flat since the vote.

Yet, some argue that the real effects of Brexit on the economy and housing market have not played out yet – particularly given the country hasn’t formally untied its relationship with the EU.

Irrespective of what occurs over the next month, housing affordability (or lack of it) will remain a pertinent issue – particularly across London and the South East.  Across these regions, the roll-out of quantitative easing and the ensuing low interest rates resulting from the financial crash of 2007-08 (alongside the Help to Buy equity loan) has meant that prices saw strong growth.  With real valuations doubling in many parts of the capital, getting on the housing ladder is close to impossible for average earners – especially with mortgage down payments being so high.   Office of National Statistics (ONS) measure of affordability (house price to median residence-based earnings), for example, grew from 8.4 in 2007 to 13.2 in London.

On the other hand, there are a number of regions where there’s good value to be had.  Many areas across the Midlands, North Yorkshire and Humberside are affordable – given that these areas did not see the spurt of growth witnessed in the South.  With remote working becoming more common, southern buyers are finding more bang for their buck in the coming years.  This is provided that the Brexit doomsayer predictions don’t actually come true…

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December 2019

Property Investor Factfile
Access
Property Expert Market Forecasts 2019 Selling Your Tenanted Property - Tax Implications - Simon Misiewicz Best Property Podcasts 2019 Modern Property Joint Venturing - Lisa Orme Blockchain and Property Birmingham Midshires - Current Buy-to-Let Lending - Phil Rickards Section 24 Finance Act - 22 Expert Insights Land Registry Digital Street - Laura Tombs The Future of the Private Rented Sector (PRS) - David Bond
National Landlords Association The Property Ombudsman Approved Code
Information Commissioner's Office The National Association Of Property Buyers Money Laundering Regulations