The last 20 years have been amazingly kind to property investors. If you’d just bought a couple of properties when Tony Blair became Prime Minister (and Katrina and the Waves were topping the charts) and sat back, you’d be feeling pretty smug right now.
Looking at house prices now, 2008 seems like barely a blip – and UK prices are now at an all-time peak.
But has the game changed? With the government gunning for landlords on multiple fronts and UK prices higher than ever before, you’d be forgiven for thinking that the golden age of property is over.
I’m not so sure. In fact, I think the next few years could be unusually rewarding – but not for everyone.
I’m Rob Dix – also known as the Property Geek. I run a letting agency and a bridging finance company, and I’ve put together a huge array of books and resources for investors – so I spend a ridiculous amount of time thinking about property from lots of different angles.
One of my more annoying traits is being extremely contrarian: the minute I see too many people doing the same thing, I get an overwhelming urge to run in the other direction.
So when I see reports like the fact that 25% of landlords are considering selling up and leaving the sector, there’s no temptation to run for the hills with them…in fact, I get excited.
Make no mistake: times are tougher for property investors now than they have been for 20 years. That means that anyone hoping for effort-free guaranteed riches is going to be extremely disappointed, and will probably lose a lot of money (and sleep) too.
But for investors who are willing to educate themselves, work hard and take a long-term view, I think the next 5 years could be very special indeed…Keep reading →