UK Property Outlook For The Next 6 Months and Beyond

Brett Alegre-Wood
November 16, 2020

Government will continue to support and stimulate the economy

The overall outlook so far is a lot better than it could have been. Be prepared for the worst. How quickly can you adapt?

Overall outlook so far is a lot better than it could have been.

That's because the government is pumping this money in. The reality is and why I think they'll continue to do that is because if all of a sudden they cut the tap off they turn the tap off they're left with all of this debt and now they're still going to have the problem where all these jobs are going to be shredded and then we're in you know we're screwed. 

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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.

The interesting thing here is I think they will keep doing this and keep supporting the economy until it naturally picks up itself. I think what's going to change now with the second lockdown and after that is whereas the support was very broad base now what we're going to see is the support isn't so broad-based it's more targeted. You may see the furlough scheme is a lot less now everywhere but then specific industries get a boost. That they're trying to support and other industries you know where they go you know what that's a dead industry it's an old industry it's not going to happen then they actually falter. They're allowed to die you know. So you just gotta make sure if you're in a job in an industry that actually is getting phased out re-train quickly which I think is what you'll start to see the government coming out with now these initiatives and get people retraining into new jobs into new careers.

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Let's face it technology that deflationary pressure yeah that's going to cause a lot of you know a lot of automation is going to displace people. They need to be retrained or else you end up with what's called a you know a useless class and what I mean by that that's not a derogatory term this is what Yuval Harari in his book 21 Lessons for the 21st century, he talks about that where basically automation has taken away their job and AI has taken away their job and you know they're not able to be retrain to get a new job because the jobs just aren't there and that's a real thing that is coming. The question is how quickly it's coming you know but it is coming.

Video Transcription

Overall outlook so far is a lot better than it could have been. That's because the government is pumping this money in. The reality is and why I think they'll continue to do that is because if all of a sudden they cut the tap off they turn the tap off they're left with all of this debt and now they're still going to have the problem where all these jobs are going to be shredded and then we're in you know we're screwed. The interesting thing here is I think they will keep doing this and keep supporting the economy until it naturally picks up itself. I think what's going to change now with the second lockdown and after that is whereas the support was very broad base now what we're going to see is the support isn't so broad-based it's more targeted. You may see the furlough scheme is a lot less now everywhere but then specific industries get a boost. That they're trying to support and other industries you know where they go you know what that's a dead industry it's an old industry it's not going to happen then they actually falter. They're allowed to die you know. So you just gotta make sure if you're in a job in an industry that actually is getting phased out re-train quickly which I think is what you'll start to see the government coming out with now these initiatives and get people retraining into new jobs into new careers. Let's face it technology that deflationary pressure yeah that's going to cause a lot of you know a lot of automation is going to displace people. They need to be retrained or else you end up with what's called a you know a useless class and what I mean by that that's not a derogatory term this is what Yuval Harari in his book 21 Lessons for the 21st century, he talks about that where basically automation has taken away their job and AI has taken away their job and you know they're not able to be retrain to get a new job because the jobs just aren't there and that's a real thing that is coming. The question is how quickly it's coming you know but it is coming.


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