Matt Cullum Blog Post 2

The market is constantly changing in property be at by slats, property development, commercial property and retail property. The COVID-19 pandemic has been a major factor in the changing of the industry and the issues that it’s faced with many properties falling in price and having a tough time shall we say in the marketing process. However due to the Sam duty holiday and other government schemes including the help to buy scheme there are certainly positives in the market at the moment there seems to be a lot of activity of state agent selling properties at quite a rate. Particularly in the south-east we’ve seen many properties go on the market and get sold at a very favourable prices even post Covid prices which have increased in value. Typically you would expect the market to drop however we’ve seen certainly an increase in particularly high value homes which tend to be recession proof and have always favoured well in times of economic crisis.

We expect quite a bounceback in the market even though there may be a bit of a drop in the next year or two following the Coverd situation. We would expect a sharp rebound if of course the situation is resolved and people are fully out of lockdown with hopefully a vaccine on the horizon. It’s always a good time to consider selling a property when you’re at the height of the market and considering there may be slight drop in prices could be considered a good option to look at selling now waiting a year or so and re-entering the market at a lower price point.

When it comes to commercial property this is certainly going to be a very big shift in the market and we expect prices to really drop following over 19. We would say that the market for offices and also shops in retail will become a much less competitive market and therefore there will be bargains to be had however there will be certainly issues in this area and it could be a risky decision to enter it now or in the next couple of years. It may be a better idea to see how the market reacts and how they are retail industry bounces back following this. We’ve seen obviously a trend in online shopping and people working from home this one down slowly reduce the demand for offices and retail units.

Across the country be at the south-east the north or London there has been a decimation in the market of commercial real estate, this would likely continue for the next couple of years and we would recommend recommend to keep an eye on the market and the news surrounding it before making any financial or property related decision we always recommend to speak to market experts as well as solicitors and accountants before embarking on any property purchase of any size. The Matthew Cullum blog will seek to provide as much help and council as possible with regular market and updates and news stories in the area of property.

We would expect a sharp drop as we discussed but hopefully even sharper around however in today’s uncertain times with the pandemic it can be shortsighted to base a decision financial and property wise on this assumption. It may be a better idea to wait to see how things to react when we are eventually free of COVID-19 and out of lockdown and then as hopefully the market returns to normal you can start to make the decisions related to property purchase and building again of portfolios. But also the government and taxation issues should be closely watched as this can change sharply and could be to the detriment of property professionals.

Published by Matthew Cullum

MATTHEW CULLUM BLOG It will always be more financially beneficial to developers and indeed private investors to seek out regular and in house construction workers to carry out the necessary renovation work, usually they will have a contract with these contractors whereby a deal is struck and they can complete multiple projects whenever there developers need them. This makes it far more cost effective for the developer as in effect they get a reduced rate due to the amount of bulk and continuous work being given to them. The property market is always evolving, real estate is generally a popular path to take as an investment option. If you buy a property it most likely will generate an ongoing income for you in the long run. But you must always be cautious that there are no underlying problems with the property before you purchase otherwise you will lose money, so make sure you assess and demand a full check beforehand. If you were to be hired from a third party to manage a residential/commercial or industrial real estate, you are acting on behalf of the property owner to preserve then value and generate an income; thus, being another way to make money through property management. Matthew Cullum blog seeks to provide concise reports and information on all the details regarding property management. There are always ways of making money in this industry. If you have potential buyers and connections such as agencies you will be entitled to a commission. In laymen’s terms it is who you know and not what you know. If you are about to embark on this career path, it is crucial that you have an understanding of the different clientele you may come across. You need to be prepared for the social aspect as well having an entrepreneurial flare. You may have to deal with different needs and expectations – landlords, tenants, agencies and various other establishments. If you are a focused and motivated individual then any problems that may occur will have as strategy. Matthew Cullum’s blog can provide full information relating to landlord property issues. Liaising with clients and contractors on a regular basis will ensure you keep a professional and personal bond by expressing that you care and genuinely hold their best interests at heart. Business is usually kept ticking over through word of mouth, another way of advertising – through contacts and getting to know different people in the same industry. The flip side of residential based property is naturally commercial based. If a property developer is looking for a more long-term stream of income they might venture into the commercial side of construction. By this I mean, if a large plot of land became available within commuting distance of an urban community this may prove to be an ideal location for potential office blocks.

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