Many people look at the average UK figures and think that the market as a whole is rising. This is not the case. The fact is that the London housing market should be seen as separate from the rest of the country, where housing values are actually falling.
London, England (PRWEB) May 21, 2013
In an April 29 report, the Guardian newspaper has revealed that London is becoming one of the most sought-after real estate markets in the world, and continues to defy the trend in European cities, with house prices continuing to rise over the past five years. In fact, the average price of a new build in London has risen a whopping 29% in those five years, according to a recent report from Halifax. Property mastermind Rick Otton has revealed that this boom may not be good news for people looking to get into the market using traditional investment approaches.
“Many people look at the average UK figures and think that the market as a whole is rising. This is not the case. The fact is that the London housing market should be seen as separate from the rest of the country, where housing values are actually falling. The rising London market is disguising the falls elsewhere,” said Mr Otton.
London Prices Can Be Distracting
The Guardian reports that a range of factors, including a weaker Pound, increased interest from overseas property investors, and short supply of housing stock have driven the London market up – in contrast to the falling prices in the majority of UK regions. In the north, new build prices have actually fallen 10% in the past five years.
“People outside of London need to exercise caution in developing their property investment strategies. This includes being clear that rising prices in London don’t mean they should overcommit to bank loans to buy a regional property, and be left high and dry should the value falls,” said Mr Otton.
“Likewise, a rising London market means that people trying to get into that market are going to need to embrace more innovative property investment approaches if they are to be on the track to long term wealth.”
“Strong growth in the London market actually means it will be even harder for those people trying to meet bank requirements to take out a home loan. Anyone with not enough saved for a deposit, a poor credit record or unstable employment – such as the the self-employed and freelancers – is going to be up against increased opposition.”
“We need to move away from thinking that the bank’s way is the only way to enable us to make money in property,” Otton added.
Mr Otton’s property investment strategies show investors how to get into the property market without a bank mortgage, existing property equity, stamp duty or a deposit.
To provide an insight into his techniques, Mr Otton is offering no-charge access to a Power Property Profits Pack as a download via his website http://www.RickOtton.co.uk
About Rick Otton
Rick Otton has spent decades making money by snapping up inexpensive real estate and putting it to work building wealth, and teaching others to do the same.
He is the founder and CEO of We Buy Houses, which operates in the US, UK, Australia and New Zealand, and through this business he puts his strategies to work every day.
Mr Otton received his start in alternative real estate investment in 1991 in the US, and within a year acquired 76 properties. In subsequent years, he made a fortune using his low-risk, high-reward strategies to inexpensively acquire real estate. He continues to do so.
As well Mr Otton travels between his home in Australia, and the UK, sharing his wisdom and teaching others how to buy and sell real estate, free from the constraints imposed by traditional lenders.
In 2013 Rick is celebrating the 10 year anniversary of introducing his property options strategies to real estate investors in the United Kingdom – the first person to reveal these ground-breaking strategies. In 2008 he created the first of his ‘Houses for a Pound’ strategies, upon which he grows as markets and laws evolve.
Mr Otton has been featured in a variety of television programs and magazines and in 2013 he published ‘How To Buy A House For A Dollar’ for the Australian market. This book has been named in the list of the Top 10 Most Popular Finance Titles for 2013, as voted by Money Magazine and Dymocks Book stores. A UK version is on the drawing board.
More information: http://www.RickOtton.co.uk or phone, in the UK, 0207 000 1027.