FIFE HOMEOWNERS: Are You Ready for the New Property Market Reality?
The Fife property market has undergone significant changes over the past few years, as depicted in the two graphs provided. These visualisations capture the trends in the number of properties available for sale and the number of properties sold subject to contract (SSTC) from January 2019 to July 2024. By analysing these graphs, we can gain insight into the evolving dynamics of the local property market and the necessity for Fife homeowners to adopt realistic pricing strategies, especially given the increase of available homes since mid-2022.
Roll the clock back to 1979, a year marked by a seismic shift in the UK government with Margaret Thatcher coming to power. This was a momentous time for the country, symbolising a new direction. Fast forward to 2024, and we could be about to experience another significant change with Sir Keir Starmer leading the Labour Party to victory.
The UK property market has demonstrated remarkable resilience despite facing significant challenges over the past 18 months. Many analysts in the autumn of 2022 predicted a severe downturn in house prices, driven by economic uncertainty, a cost-of-living crisis, and rising mortgage rates.
As an experienced estate and letting agent based in Fife, I have been closely monitoring the trends in the UK property market. As of January 11th, 2024, the market has shown a solid start, a trend worth exploring, especially in how it might mirror or differ from the local market in Fife.
Exploring the Ethical Dimensions of Buy-to-Let Investment.
The Kingdom of Fife has witnessed a profound transformation in its housing landscape over the last few years, and the surge in private renting has led to significant debates about the morality of the buy-to-let market.
Weekly round up on what’s driving the Fife Property market including a look at recent listings, sales and coming soon:
Article, Podcast and TV Shows written and produced this week are:
FP TV (EP 148) MILLENNIAL LANDLORDS: How to help your child build their own buy-to-let business. Imagine if your child was already financially independent by the age of 25. How proud would that make you feel? With the UK’s massive housing shortage, rents are being pushed higher and higher. This means more private landlords are urgently needed and buy-to-let is the ideal business to begin at a young age. Lettings Director Richard Cook along with Letting Agent Kerin Marshall
Leaving 16,219 People on the Council House Waiting List in Despair. Jim Parker reviews the current figures provided in the article and offers some insight as to what this means for Fife homeowners and landlords.
Watch out for the Wealth Creation Show on Mondays @ 12.30pm live on these channels:
EP 77 THE WEALTH CREATION SHOW: Positive Attitude is a Skill
A positive attitude is an extremely important skill for your career and your personal wellbeing, and it improves your life in general.
Positive thinking means you are optimistic and see the glass half full instead of half empty.
So, do you believe that you get back what you give out and that developing a positive attitude and mindset is a skill that can be picked up?
Luckily, you don’t need to head back to school to learn how as Richard Cook and Perrie McIntosh are on hand to take you through how implementing a positive mindset and attitude to all aspects of your life is a skill that can ultimately help you become successful
If you are a private client of ours, including the ongoing support you will also receive an invite for the last Thursday of every month to a private zoom session which will be a deep dive into more detail on portfolio building. If you haven’t received your invite, please contact us to richard.cook@fifeproperties.co.uk
This is all about accelerating your wealth in 2023.
*We must point out that we are not financial advisors, and this is only our opinion of what we would do. Investments can go down as well as up so if you do want professional advice from a qualified advisor, please contact us direct and we will put you in touch with someone.