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The Property Podcast

TPP424: Is investing in city centres a thing of the past?

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.82K Ratings

🗓️ 29 April 2021

⏱️ 28 minutes

🧾️ Download transcript

Summary

This week we’re turning our focus to city centres The death of city centres has been widely publicised, but is it correct?  On this weeks episode of The Property Podcast, Rob & Rob have a different point of view that might open up a once-in-a-lifetime opportunity for property investors.   So make sure you tune into today’s episode to find out what it is.  Here’s what to expect on this week’s property podcast episode A common theme amongst headlines over recent months has been how city centres are dying out, rural locations are thriving and how London is struggling.   Apparently... what buyers and renters are looking for has changed.   So does this mean doom and gloom for people who already own properties in the city centre?  Or is this just a blip and if so, does it create any kind of opportunity for investors?   That’s what we’re looking at today.     In the news  This week's news story comes from Estate Agent Today and the headline reads ‘stamp duty receipts soar despite the holiday’.   In March, stamp duty brought in £1.1 million, making it the fifth biggest month for Treasury income from this tax since it was introduced in 2003. It was also 22% higher than the same month in 2020.  Which on the surface seems bizarre as when you cut a tax, you don’t generally expect to see MORE of it. But there are a few things that could be happening here...  It could just be a conincidence, but it could also be that the reduction in tax has prompted more people to move, so the volumes are higher. It seems a win win for everyone.    Hub Extra  This week we’ve got an incredible resource for you called Class Central.  It’s a search engine that’s for all of the free courses that are out there on the internet, mostly from universities.   They’re reviewed, some will give you certificates and you can learn pretty much anything - and the quality is absolutely incredible.   There’s always time to continue your learning which we’re big believers in.     Let’s get social  We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do.  Make sure you’ve liked and subscribed to our YouTube channel where we upload new content every week!   If that wasn’t enough, you can also join our friendly property community on the Property Hub forum. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0

Hey everyone, Robby here with RobD, and this week on the Property Podcast, we're going

0:07.0

to deliver some numbers to you that I really truly believe will blow your mind. The numbers

0:12.3

that nobody else is talking about and could possibly change your viewpoints on property

0:17.4

investment in the UK. Welcome to the Property Podcast, where every Thursday morning property

0:28.6

investors come to be informed and inspired. This week we are talking about city centres.

0:33.8

The death of city centres has been widely publicised, but is it correct? We've got a contrarian

0:38.6

view that might actually open up a once-in-a-lifetime opportunity for property investors. So say

0:43.4

to find out what that is as well as, like Rob said, those astonishing numbers.

0:47.4

And make sure you stick around for hub extra because we've got something really special

0:52.0

for you this week that you will not believe that you can use for free. It's time for

0:57.0

our new story. Now in a very interesting new story, it is. The headline reads, stamp duty

1:02.3

receipts saw, despite the holiday. And this is a article taken from a state agent today.

1:08.8

Rob, how can this be? There's been a tax cut yet the government's made more money. Are

1:13.4

they having some sort of laffer? To be made to get that, that's very good. Possibly.

1:20.1

So in March, they brought in nearly 1.2 billion in stamp duty, which is the fifth biggest

1:25.6

single month since stamp duty took its current form all the way back in 2003. And that's

1:32.4

22% higher than the same month last year. Now on the face of it, when you cut attacks,

1:37.7

you don't expect to, therefore, receive more of it. But there are a couple of things

1:41.5

that could be happening here. One is that actually this could be completely unrelated to the tax

1:47.0

cut. It's just because of other circumstances, such as the end of lockdown, people moving

1:51.0

for personal reasons, the uncertainty fatigue that we've talked about in the past, people

1:54.3

was wanting to move for other reasons. And the stamp duty doesn't actually make too

...

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