Investment opportunities are spread out
It's a bit of disruptive market, yes. Why I think London is great and the overseas buyers are there, we are seeing a lot more London buyers, interested buyers.
Let's switch it up to London: I love London. So lack of overseas buyers hits London’s prime property market. Sales and rental are down in the capital’s most exclusive postcodes and you know what they are and I’m not surprised. Because to be fair most people don’t really know what’s happening, there’s not the demand that’s happening there plus with the lockdown and all that sorts of stuff it’s a bit of a disruptive market but as we’ll see very soon in my final rant London actually is a bloody good market and a little bit of Coronavirus will not affect it, it is always gonna be a fantastic environment.
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It's a very different market in Scotland, it's a smaller market. There's some fundamental changes namely oil and gas with all the issues there and that I know Aberdeen and a few of those places house prices have dropped considerably. So, it depends on how that's reacted.
Why I think London is great and the overseas buyers are there, we are seeing a lot more London buyers, interested buyers. The interesting thing now and the last recession is that the last recession, international buyers were only buying London, they could only buy London.
What’s happened now is now they can buy Manchester and Birmingham probably not much outside because of the property value. They can probably buy commuter towns but that’s not really what they want. They are looking for the city centre stuff and the reality is with that, what it means is with the city centres that’s London, that’s maybe commuterish a little bit but not really Manchester and Birmingham so there now that demand is spread out but one of the other problems they've got is mortgages.
The mortgages have got harder yeah make no mistake and there's a bit of fear about the tax changes but for the most part they see the pound low they see all these sort of changes which you know is quite interesting.
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Let's switch it up to London: I love London. So lack of overseas buyers hits London’s prime property market. Sales and rental are down in the capital’s most exclusive postcodes and you know what they are and I’m not surprised. Because to be fair most people don’t really know what’s happening, there’s not the demand that’s happening there plus with the lockdown and all that sorts of stuff it’s a bit of a disruptive market but as we’ll see very soon in my final rant London actually is a bloody good market and a little bit of Coronavirus will not affect it, it is always gonna be a fantastic environment. Why I think London is great and the overseas buyers are there, we are seeing a lot more London buyers, interested buyers. The interesting thing now and the last recession is that the last recession, international buyers were only buying London, they could only buy London. What’s happened now is now they can buy Manchester and Birmingham probably not much outside because of the property value. They can probably buy commuter towns but that’s not really what they want. They are looking for the city centre stuff and the reality is with that, what it means is with the city centres that’s London, that’s maybe commuterish a little bit but not really Manchester and Birmingham so there now that demand is spread out but one of the other problems they've got is mortgages yeah the mortgages have got harder yeah make no mistake and there's a bit of fear about the tax changes but for the most part they see the pound low they see all these sort of changes which you know is quite interesting.
