With some form of economic depression being forecast, although how severe and it’s length are open to debate, does anyone have any thoughts on future residential property values ? I know that the SE has its own bubble, and there are obvious regional variations, but I’m trying to get a general feel for the housing market.
I’m wanting to downsize in the short to medium term, so wondered if this year may be a good time to sell and possibly move into rented short term.
An acquaintance of mine has also made me a business proposition. I lend him money to buy some land which already has planning permission for 3 houses, then when the first house is sold he pays me back the loan at 8% APR. I will have a first charge on it. In the event of the houses not selling, then he and his partners (2 builders) will take out ‘buy to let’ mortgages. A solicitor pal, head of property services at a large firm, will do my legal paperwork and I’ve known him for over 30 years so no worries in that department.
|
