Is this decade going to be like the roaring 20’s? I started investing in property around 2006 to 2007, when house prices had at...
Is this decade going to be like the roaring 20’s?
I started investing in property around 2006 to 2007, when house prices had at least doubled in the previous 5 years. It was an incredibly exciting time, I was fresh to property investing and was beginning to build my portfolio with my brother Chris.
I was working and living in London and at the time and I used to catch a train upto Newcastle on a friday, spend all my saturday and sunday making flat packs for kitchens as well as painting late into the night. It was a great time and very satisfying.
The market was going up 10-15% every year and there seemed like no end was in sight, every day you seemed to make tens of thousands off your property investments or listened to another portfolio landlord who had made it BIG!
Whisper it quietly but there’s a feeling of 2006 in the air in the North East.
House prices are up 5% year on year and we’re selling properties like hot cakes in our estate agency. This feels like the hottest year we’ve had for 15 years!
There’s also more to come:
- Government backed 95% mortgages from April
- Extended Stamp Duty
- Further investment into the north: The “Whey Aye Wheel” – Bigger than the London Eye + £100m of investment, Darlington treasury campus, Teesside freeport etc. etc.
I’m getting really excited about the year ahead, I hope you are?
We might be seeing the beginning of a sustained move higher and that means for us North East investors the holy grail of a double bubble – rental income and capital growth in spades!
As a landlord myself I’m definitely looking to increase my portfolio this year and I discussed this with our mortgage broker Gary, to see what he thought!
As you can see our big question was should you STICK thinking the property market will come off in the autumn when furlough ends or TWIST since this markets moving higher and you can’t stand in it’s way!
If you want to TWIST give us a call on: 0191 491 0344 Option 1 or email: email@example.com
This could be “the best of times, the worst of times, the age of wisdom or the age of foolishness” – but whatever it is, it’s an opportunity!