Brett’s Weekly Property News – 2nd February 2009
Hey guys,
This week’s UK and International Property News update is our first outside broadcast — brought to you direct from the snow drift outside our offices in Islington. Only half the office made it in today so we had a bit of fun playing in the snow. You’ll see the results at the end of the video (hint: look for the YPC Snowman).
This week I introduce a topic that I will be covering on a weekly basis, that of Off Plan Property. As developers’ stock list dry up they’re turning to off plan as the answer. The problem at the moment is that banks are not very motivated to lend to developers for new property unless they have a huge amount of security. It’s good news for investors as these are the very developers who are prepared to offer great bargains to those who are prepared to exchange off the plan.
I then take a look at the property markets around the world, using Dubai, Hungary and my hometown, the Gold Coast as examples of what’s happening all around the world’s property markets.
Finally, my thoughts for the week are that the bad news is going to keep coming but really no-one knows what’s happening or when it will turn around. Worst case scenario — I think that if you can survive for three months then get a job at 75% of your current income you are in a great position to survive the recession. So if you aren’t there look at the steps you need to take to get there and if you are there then relax and stop reading the doom and gloom that seems to be everywhere.
If you have any questions or want some help with planning for the ‘What if’s’ then give the team a call on 0207 812 1255.
Live with passion,
Brett Alegre-Wood
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