August Budget Rumours, Spiraling Borrowing and Mixed Messages in the Property Market

Mark gives a news review, focusing on Rachel Reeves plans for the October budget and what he thinks the rest of Labour's plans will be for the UK. Mark also talks about the voting share from the election, UK rental affordability and the impact the continued drop in interest rates is having on the housing market.  KEY TAKEAWAYS Labour already knew the financial situation but they are now behaving like they didn’t, revealing the drastic measures they may take.  Labour will likely look to change inheritance tax and pensions to try and ‘fill’ the gap in finances. Only 20% of the population actually voted for labour. This outcome is really about the conservatives performing so badly. The government’s control over the sentencing of rioters is concerning, they shouldn’t be able to have this much direct impact on the sentencing of individuals. Rental tenants are paying 70% of their income on housing in the UK. This is a direct consequence of the changes made by the previous government, that impacted demand and mortgage rates.  Interest rates are continuing to go down, which will cause more people to buy houses rather than rent, this can already be seen by the slowing growth in the rental market.    BEST MOMENTS   "They’re saying capital gains tax should be the same as income tax, which of course is not right” “I think she is probably going to try and get most of the bad news out this autumn” “I think they will repeal the section 21 which will make it harder to evict tenants”   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: [email protected] 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/