1st Quarter Down- 2017 Predictions Update
Straight from the desk of one of our Directors Rob Brown:
As you may have read recently, every year we come out with our predictions for the residential property market. On the whole, these are pretty good and are well received by our clients.
Predictions are becoming horribly hard to make in this increasingly volatile world; predictably hard to predict!
If one had placed a £1 accumulator bet at the start of 2016 on; a) voting yes brexit, b) a trump victory and c) leicester city winning premier league then apparently the pay out would have been £4.5m; but who would predict such things, and that we would be living in such a daft world!
The saying goes; Economic forecasters were invented to make weather forecasters look good, I would guess the same applies to property price forecasters!
Looking to 2017 it is really hard to make meaningful predictions; nobody has a clue (the Government included) how Brexit negotiations will end. It is clear already that the Trump presidency will make the US far more pro-business. The Prime Minister and team will be trying their very best to negotiate the best terms for Brexit.
It is important to “play the long term game”; don’t be too racy, don’t be too risky; your savings and your pension need be in safe, secure investment. Gold or derivatives, emerging markets or oil…………….not for us, we recommend good solid, conservative, profitable residential property investment.
The UK is an attractive place to live, work and invest; a source of relative security in a world of increasing uncertainty. The asset class to invest in the UK in is residential property.
I leave you with this last snippet of information I read recently; “The royal institution of chartered surveyors suggests that by 2025 we’ll face a housing shortfall of 1.8m homes in the private rented sector”. 1.8million homes; this is a huge number and 2025 is not as far away as you may think!