The latest in a growing number of Property Forum podcasts saw Nick Wallwork and John Howard discussing property development during Covid-19. The ability to look ahead, beyond the short-term challenges, is something many property investors are now investigating with an array of opportunities presenting themselves.
DATE AIRED: Thursday 23rd April, 12:00 midday. (Available on the Property Forum YouTube channel)
HOSTED BY: Nicholas Wallwork, Property Forum’s CEO
WHERE: Broadcast LIVE on Property Forum TV on YouTube
GUEST SPEAKER: John Howard, seasoned Property Developer and Speaker
The live discussion took in an array of different subjects relating to property development during Covid-19 which included: –
• What property development strategies are more robust in today’s uncertain market?
• What development opportunities are likely to be available in the next 6 – 12 months?
• How do you spot a solid commercial investment at this time?
• If you are considering buying a plot of land to develop, should you continue with that purchase?
• If you’ve already purchased land or a building, should you start development work now, or should you wait? Equally, if you’ve already started development, should you hold off finishing the project?
• Is now the time to buy an auction property? What will the auction property market look like in the next 6 – 12 months?
John Howard has been involved in property development for more than 40 years, accumulating a vast wealth of knowledge and experience. He is perhaps best known for his property investment books, event speaking and mentor service. However, John is also a director of numerous highly successful property companies with growing demand for his experience, knowledge and ability to read markets. Here at Property Forum we have worked with John on a number of different projects sharing his invaluable experience and advice with members.
Today’s show revolves around property development taking in auctions, land and commercial investments during these very challenging markets. You can view the full podcast on the Property Forum YouTube channel: –
Property development amidst the challenges of Covid-19
Any property development/investment involves a degree of risk but in traditional markets it is fairly easy to gauge the risk/reward ratio required to make an investment feasible. The challenges of Covid-19 have in theory changed the risk profile relating to property development which has prompted many property developers to take a step back. There is a time to be cautious but there is also a time to be forward thinking and there are few more experienced developers than Nicholas and John. They will walk you through the difficult decisions you may be facing in the short to medium-term and explain the need to see beyond the short-term situation. Timing is vital in the current environment and it is important to have the courage of your convictions; when the time is right.
Should you proceed with a property investment in the current market?
Historically, the UK property market has rebounded fairly quickly in the aftermath of previous short sharp shocks such as the 2008/9 US mortgage crisis. However, many property investors will be faced with some difficult decisions. Do you proceed with that previously agreed auction acquisition, is it the right time to invest in land and what about that attractive property development that recently showed up on your radar?
While these are scenarios faced by many Property Forum members, Nicholas and John have also been presented with similar challenges in recent times. Listen to their frank advice, their personal experience and also their hopes and aspirations for the future. While there is a time to be cautious, there is also a time to look forward and with demand for UK property far outweighing supply, there is still potential for significant returns from property development projects.
Looking to the future
It would be remiss to suggest that the current property investment environment is easy to read. If you peruse the mainstream media on a regular basis you would be forgiven for thinking the property market is on the verge of collapse. However, dig a little deeper, check out reports from mainstream property investment companies and the situation is not as dire as many would have you believe. As Nicholas and John have shown with their own property development projects, the key to long-term success is instigating a long-term investment strategy. This does not mean ploughing ahead regardless. Now is the time for selective investment; waiting for the right moment while at the same time spreading your risk across different property markets.
This interactive session attracted great interest from those looking at short, medium and long-term property development opportunities. The chance to listen to two accomplished property investment gurus who have been around for decades is priceless. You will also notice that many viewers took the opportunity to ask interactive questions which Nicholas and John were able to answer during the podcast.