By Jess Macaulay,
Thank you to everyone who joined us at September’s PIP meeting in London. As many of us returned from a summer break this month was jampacked with insightful views on the property market and what is to come as well as detailed insights into the auction market. If you couldn’t make it, the presentations will be on The Vault ready for you to catch up.
After getting introductions from everyone in the room Richard Bowser from Property Investor News kicked off our meeting sharing his thoughts on the marketplace realities in 2023 as well as the prospects and risks ahead for property investors and developers. Richard shared his insights on whether the property market would crash, areas of potential competitive advantage within property right now, and what to not get caught up in within the property market.
We next had further discussions on Property Investor News from the legend that is Ranjit Singh Chaggar, who always kindly shares his educational insights.
John Cox next joined from Insurance-Desk. Providing the latest details around property insurance he talked through the issues in the sector around under insurance and the requirements to regularly get the portfolio revalued to ensure its valued at the correct level.
Peter Vandervennin from the Mortgage Consultancy talked us through what had been happening in the lending market since we last met. With an upcoming additional rate rise anticipated, he mentioned that serious property players are buying now and whilst the rates remain high if you’re getting a substantial discount on purchases the rate of lending is less important if it comes with a 50% discount on the way in. He felt that the next 4-6 months would be crucial to property investors and developers and could provide some very exciting purchasing opportunities. It’s a tricky lending market, but the market remains busy.
Finally, we heard from our esteemed auction panel. Our panel included David Leary from Essential Information Group, Andrew Brown from Strettons auctions and Piotr Rusinek from Hammered. Questions were opened to the floor on areas such as what was expected to happen in the auction market, deals, opportunities, modern method of auction vs. traditional, things that can go wrong and many, many golden nuggets from the auction market were shared. This is one not to miss on the Vault so do login and check it out.
All the presentations will be available for members that could not attend on the PIP Vault
Next month we are meeting at the Dickens Inn on Thursday the 12th of October, 9.30-4pm with networking post meeting. October’s meeting will see talks from Alicia Barlow on buying asset backed businesses as well as Jane Deeks a property VAT specialist alongside our usual event sponsors.
We’re looking forward to seeing you all next month, Jess, and Sue.