What happens next to the property market and house prices?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 19 February 2021

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

Since the stamp duty holiday came in last summer, there has been a property market mini-boom despite the ongoing coronavirus pandemic.

Is it losing puff yet and if not, when is it going to run out of steam and will we see the tax holiday extended?

The typical home added £20,000 of value in 2020 according to the Office for National Statistics, while prices of detached homes are growing far quicker than other housing stock.

On this week’s podcast, Simon Lambert, Lee Boyce and Georgie Frost take a look at the latest property market data to dissect what it means.

On 3 March, we will have a Budget. Will it give an indication as to how we could foot the huge bill linked to the pandemic? Will there be tax rises? And are there simple ways to protect your wealth?

How many shares should you hold to diversify and is fund manager Neil Woodford really about to stage a comeback.

Meanwhile, Lee gives a free wine course from Aldi a go as part of his consumer trends column – does he have what it takes to become a Master of Wine?

Transcript

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0:00.0	Welcome to This Is Money Podcast. I'm Georgie Frost and alongside me and editor Simon Lambert today is
0:05.5	Assistant Editor Lee Boyce. And coming up, the property market mini boom is the end of the stamp duty
0:11.4	holiday going to land the killer blow or is nothing going to stop the charge. We may get an extension
0:17.1	announced in the budget. We don't know much about what Rishi will do, but we can tell you how to preemptively protect your wealth. Plus, as the prodigal son is set to make a
0:26.2	return, angry investors who lost over a billion from the collapse of Woodford's equity income fund,
0:31.8	turn on the city watchdog. We try to settle the old chestnut, how many different shares
0:36.2	should you hold, and Lee takes on the ultimate lockdown learning, a semelier course with Aldi.
0:42.8	Don't forget you step to stay with all the latest breaking money news, just go to this ismoney.com.uk, or download the app at first.
0:50.2	Like a cockroach, it seems nothing could stop the property market, not even a global pandemic,
0:56.4	as locked downed city dwellers made a dash for more space in the country, house prices rose by
1:01.9	an average of 20 grand last year. It was helped, of course, by the chance of stamp duty holiday on
1:06.7	homes up to half a million. Well, that comes to an end on March the 31st, unless, of course,
1:12.2	an extension is announced in the budget, leaving perhaps 100,000 deals hanging by a thread
1:17.6	at the moment. Will it be a hurdle too many for the property market to get over? Is it about
1:23.6	to run out a puff? and if not now, when?
1:29.5	Simon, you ask the question.
1:32.8	Is the property market hanging by a thread?
1:35.1	Is it hanging by a thread?
1:37.3	I don't think it's hanging by a thread.
1:49.9	I do think that it might possibly be on a little bit more of a tipping point than many people think. The property market has definitely defied all expectations after the property market freeze at the start
1:55.9	of the lockdown. I mean, bearing in mind, the market was shut for six weeks, maybe at least, six to eight weeks.
2:04.5	I can't remember the exact period of time. No viewings. Hardly any sales went through. People weren't listing their homes. And we were faced with, to use the word of that time, unprecedented times where we were ordered to stay at home.
	...

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