The start of a new year always brings up a popular topic. “Where will the property market take us this year, and what can we expect?
I wish I could have some mysterious crystal ball, and see what is yet to come. In the meantime, lots of things are quite straight forward and easy to predict.
Firstly, the future of our properties and our goals will be equal to the amount of work we put in. And of course the amount of people we help throughout the journey. It’s as simple as that.
In terms of demand and supply, as the article 4 restrictions are implemented across many councils, the number of new HMOs will certainly reduce. And this I hope will produce a higher quality housing and tenants.
The demands on landlords keep increasing. However, we would really like to see those same demands apply to the quality of tenants as well. Who knows, miracles do happen, and maybe this could be the year when a special fast eviction process is introduced for ‘problem tenants’ together with the talks of removing S21 notices.
All landlords should consider making it their priority to be more “greener” and energy efficient. Reducing the impact on our planet, which is a very important cause that will become especially relevant with the new EPC requirements coming in 2025.
The demand for high quality HMO properties has been increasing since September 2021. Our prediction is that it will stay this way, at least till this summer, after which the demand most likely will stabilize.
But as mentioned before, this year will only be as good as we are prepared to make it, so let’s make it a good one.