Mark and Kevin dissect the recent UK general election results, exploring potential impacts on property investment, economic policies, and the future political landscape. Mark also shares his thoughts on navigating the changing market, seizing opportunities amidst current challenges, and adapting investment strategies.

KEY TAKEAWAYS

• Labour's victory was significant but not as large as initially predicted, with the Conservatives performing better than expected despite their worst result since the 1830s.
• Interest rates are expected to start declining in the second half of 2024, with a gradual decrease over the next 3+ years, potentially settling between 2-3%.
• The property market is likely to see an uptick once interest rates decrease, as incomes have risen and house prices have rebalanced, creating opportunities for investors.
• Buying properties through limited companies offers tax advantages, allowing full mortgage interest to offset against rent for tax purposes.
• Nigel Farage's presence in Parliament could bring attention to landlord issues and hold the Labour government accountable in an entertaining manner.
• Labour's large majority may lead to internal conflicts between centrist and left-wing factions, potentially complicating legislative efforts.
• Successful property investment requires focusing on a specific area, building local contacts, and adapting to market changes rather than using a scattered approach across multiple locations.

BEST MOMENTS

"Do not wish for no problems, wish for the ability to handle bigger ones. And there will be some great stuff that comes out of the new election."

"I think there will be huge opportunity. If there's a big shift, there will be huge opportunities."

"You've got to take action, and get in an environment where you can learn. You need to be devouring books, courses, videos. Being around other property investors who have found a way to make money out of a new world, a new environment."

"I always say to people, do not wish for no problems, wish for the ability to handle bigger ones."

"We're making more money than we ever have out of our properties, at any point over the last 20 years, because we've changed and taken advantage of all these things and utilize them."

VALUABLE RESOURCES

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Mark has read through the main political parties’ manifestos, and in this episode gives his thoughts on everything from Labour’s spending promises and Green’s 1% wealth tax to The Reform Party’s proposed 45% NI for foreign workers. He focuses on the parts of the manifestos that will be important for those in property, investing and small business owners. Mark also talks about the issues politicians need to focus on to bring the country out of debt and stimulate growth.

KEY TAKEAWAYS

• Labour’s spending promises are actually lower than the conservatives. However, there is nothing much about planning or property legislation.
• Immigration has hit 750k so the Conservative’s promises around this haven’t been kept.
• The Green Party are proposing a 1% wealth tax, these kinds of tactics haven’t worked in other European countries such as France, and they don’t lead to the effect desired.
• The country's debt is impacting growth but none of the parties have focused on it in their manifestos.
• There are more working-age people on benefits and out of work than pre-covid. This needs to be tackled by all parties
• The first time buyers schemes will likely be extended and the upper values increased to keep in line with the market.

BEST MOMENTS

"I think the older you get the more cynical you become”

“I do believe lots of people will up sticks and leave”

“We have debt levels of nearly 100% of the size of our economy, it is unsustainable it needs to come down”

“Do I think we will ever return to the EU? Yes I do”

VALUABLE RESOURCES

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

This episode is taken from the recent property network revolution event, where Mark takes questions from property investors and business owners. Mark answers questions on the current political climate and what this might mean for the economy, the property market and entrepreneurs and businesses.

KEY TAKEAWAYS

• Labour still has a lot of left wing MPs in the party, convincing them to vote in more centrist policies will be a challenge for Kier Starmer.
• Whilst labour may now increase national insurance of income tax, they will find ways to stealth tax.
• Look at post war Britain, prior to Thatcher, shows the problems with rent controls and we are starting to see these issues again with the controls that have been brought in with legislation in Scotland.
• One way the country could help tenants and landlords and begin to solve supply and demand problems in housing is by reforming the planning system.
• Local planning regulations, with zones and permitted development within these would speed up planning processes and consent
• Whilst it may not be popular, someone in politics needs to make some tough decisions around planning and development so we can solve the housing crisis.

BEST MOMENTS

"He’s not Jeremy Corbyn is he”

“The conservatives have done an appalling job for too long”

“I would reform the planning system in a huge way”

“Someone will balls needs to actually do it”

VALUABLE RESOURCES

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

‘Brought to you by Progressive Media’: https://progressivemedia.uk/