After last year's unexpected mini property boom during a global pandemic, many people are anticipating what this year's property market will look like. Kevin keeps you in the loop with this week's property news as he discusses Sadiq Khan’s call for an eviction ban extension and the effect Brexit will have on newbuild homes. Kevin also discusses what has been discussed this week in the Progressive Property community.

KEY TAKEAWAYS

Weekly Property News

• In an article in Landlord Today, London Mayor Sadiq Khan has called for an extension of the eviction ban and a two-year rent freeze in London. Although he has no major powers over the private rental sector Khan wants the government to give renters the same protection as commercial tenants who have been granted an eviction extension until March.

• The effect that Brexit will have on the housebuilding sector is that a lot of house building materials are manufactured in Europe. This means that there is likely to be a slowdown in production and delivery of materials especially early on in 2021.

• With the stamp duty holiday coming to an end in March then it is likely that this could see an effect on builders and house building in general. It will be interesting to see if there is still the same demand for new build property.

Progressive Property Community News & Discussions

• Rob Moore posed the question to the community ‘When do people think that the property market will correct or slow down?’
• The property market will likely slow down after the stamp duty holiday has ended. Once it has ended, there could be a crash in the market and a lot of property could end up having negative equity.
• When opening a business bank accounts many people opt for the famous high street banks. There are a lot of lesser-known online banks such as Starling and Tide banks which are easy to navigate and are cheaper options.

BEST MOMENTS

“He is asking for more powers to implement a two-year rent freeze in London as an emergency measure.”

“This could have a big impact on the slowing down of house building.”

“It is going to be interesting to see how the layout of houses will change.”

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ABOUT THE HOST

Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.  

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