2023 Predictions Recap with Marc Champ of Wharf Financial

The Property Nomads Podcast

Rob is joined by Marc Champ of Wharf Financial to discuss their predictions for 2023. They review their previous predictions, which included topics such as bridging finance, Bank of England rates, inflation, house prices, and the future of nuclear energy.

They also assess the accuracy of their predictions and discuss the current state of the market...

KEY TAKEAWAYS

• Bridging finance has not dissipated as predicted, but there has been a decrease in the number of new bridging companies entering the market. Some bridging lenders have struggled due to increased competition and the need to raise rates to remain profitable.
• The Bank of England rate has increased to 4-5%, which aligns with the predictions made in the podcast.
• Inflation has not come down from 10% as predicted, but rather stands at 4.7% according to official CPI figures. However, it is acknowledged that CPI figures may not fully capture the true extent of inflation.
• House prices have remained relatively stable, with a slight decrease of 0.1% according to the recent house price index. This contradicts the prediction of a 10% decrease in house prices.

BEST MOMENTS

"I thought there would be a lot of [bridging finance companies] that would struggle because there were so many in the market."

"If you borrow money, you have to repay it in the end."

"I remember talking at the time saying [the Bank of England rate] will get up there because everybody everything needs to be repaid. And that's exactly what's happened."

"The world and its economy isn't as up and down as people make out."

VALUABLE RESOURCES

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ABOUT THE HOST

Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.

BOOKS

Property FAQs = https://amzn.to/3MWfcL4

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101 Top Property Tips = https://amzn.to/2NxuAQL

WHERE TO FIND US

https://linktr.ee/thepropertynomadspodcast

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast