TPP419: What's happening to the London property market

This week we’re taking a look at the future of London Since the Coronavirus pandemic hit last year, the future of London and its property market has been a hard one to predict.  As it stands, the London market is all over the place.  Rents are falling, house prices are falling and thousands of people are leaving the capital.  So what does all this mean for the future?  We’re dedicating a whole episode to just that. Here’s what to expect on this week’s property podcast episode The media love the property market. And they love London.  But journalists tend to look at what’s happening in the capital and presume this is the same across the country.  That’s why it’s important to not be swayed by headlines.  Normally we steer clear of discussing London on The Property Podcast but after the past 12 months and the effects Coronavirus has had on the whole country, we felt the need to address the future of London.  It’s common knowledge that people are moving out of the capital and clearly tourism has taken a hit over the past year.  So what does that mean for you if you’re an investor in London or you were planning to make an investment there? Today Rob & Rob are covering: Why has London been hit so hard? Why 700,000 people are leaving London Rents falling and what this means Falling house prices The latest price statistics you should know Plus so much more! So, is the future of London looking bleak or is there hope on the horizon?  Tune in to find out.   In the news This week’s news story comes from Mortgage Strategy and the headline reads ‘strongest sellers’ market for a decade’.  The article uses data from Rightmove where they’ve measured the number of enquiries per property, which is 34% higher than last year - that’s a busy month! This demonstrates how strong the market is right now and the supply of properties coming onto the market is certainly proving an issue.   Hub extra This week’s Hub Extra resource is one to get you out and about. It’s called All Trails and this app helps you to explore your local area. If your usual walk/run route has got a bit stale, this is worth a look. You simply pop your local area into the app and it’ll suggest a load of new routes nearby for you to explore.  Perfect if you’re wanting a change of scenery this weekend.    Let’s get social We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do. Make sure you’ve liked and subscribed to our YouTube channel where we upload new content every week!  If that wasn’t enough, you can also join our friendly property community on the Property Hub forum. See omnystudio.com/listener for privacy information.