Savills found themselves in a bit of hot water after the Euros finals a couple of weeks ago (seemingly by no fault of their own?) but, putting that to one side, I do admire and respect their ‘courage’.
Because back in March 2021, which is only a few months back, they predicted average UK property prices would increase by 4% this year.
But now they have updated their prediction because the market is much, much stronger than they anticipated back then.
Many other commentators would have ignored this and just kept their heads down, and hoped no one would notice.
Savills, though, have followed the Keynesian principle of, “When the facts change, I change my mind” and have updated their prediction for 2021.
Actually, not just 2021, but all the way through to the end of 2025.
And they show their predictions on a regional basis, not just as a UK average.
Spoiler alert – London is the worst performing region over the next 5 years, whilst the North and Midlands, (as well as other regions) do better.
The Ripple Effect in action, which I’ve covered in another video.
So, all in all, it’s worth having a look at Savills’ predictions.
In theory their predictions tell us what is going to happen when the Stamp Duty holiday finishes at the end of September, and what’s going to happen to interest rates over the next five years.
So it’s all good stuff.
I will go through it all in the video, and I’ll also give my opinion on what Savills say, so if you are interested in property and the property market please watch it (it’s only about 8 mins long).
Here’s a link to the appropriate page on Savills website if you want to read their views in full.
Here’s to Successful Property Investing.
(ex) Chartered Surveyor, author and property investor
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