Propenomix with Adam Lawrence

The £76k new-build tax, EPC illusions and why Britain has stopped building

Is the UK property market crashing, or is it just geographically divided? ***CHECK OUT OUR NEXT WORKSHOP: www.tinyurl.com/pbweleven [https://www.tinyurl.com/pbweleven]*** In this week's Propenomix Sunday Supplement live version, I dive deep into the unvarnished reality of the UK economy and housing market. I break down the massive 27.4% gap between property listing prices and actual sale prices, the horrifying cratering of the UK construction sector, and exactly why it now costs £76,000 more to build a house than it did in 2020. Plus, I look at the seismic shock of the local elections - what does a Nigel Farage/Reform UK surge mean for landlords, rent controls, and the bond markets? If you are a property investor, developer, or just trying to navigate UK interest rates and inflation, this is the only macroeconomic breakdown you need this week. 👇 SUBSCRIBE & DROP YOUR QUESTIONS IN THE COMMENTS! 👇 In this 1-Hour Live Stream, I cover: Trumpwatch: The US Court blocks global tariffs & the UK local election fallout. The Reality of the High Street: Why 46% of homes are withdrawing unsold. Halifax House Price Index: The brutal North-South property divide. Macro Data: S&P PMIs flash red for construction as supply pipelines dry up. Gilts & Swaps: Why "Higher for Longer" interest rates are locked in. The Deep Dive: How political shifts will impact your property portfolio and EPC illusions. ⏱️ Video Chapters / Timestamps 00:00 - Intro: Welcome to the Sunday Supplement Live! 02:15 - Trumpwatch: Local Election Shocks & Trade War Updates 12:30 - UK Property Market: 637k Listings & The "Hopium" Epidemic 20:45 - The 27.4% Pricing Delusion: Why Half the Market is Failing 28:00 - Halifax House Price Index: Real Terms Shrinkage & The North-South Divide 36:15 - The PMI Horror Show: UK Construction is Cratering 45:00 - Supply Chain Crisis: The £76k "New Build Tax" & Material Costs 51:30 - Gilts, Swaps & Interest Rates: Are We Stuck at 4.5%? 55:20 - The Deep Dive: How Politics & Populism Will Impact Landlords 1:00:00 - Live Q&A and Final Thoughts #Propenomix #AdamLawrence #Property #Business #Economics #Markets ***CHECK OUT OUR NEXT WORKSHOP: www.tinyurl.com/pbweleven [https://www.tinyurl.com/pbweleven]***

Pricing Hopium - Housing, Tariffs and the End of Hope

Episode Title: Whisky Carrots, Tech Sticks & The Death of Pricing Hopium Show Notes: Upcoming Event: Before we dive into today's macroeconomic breakdown, a quick reminder: Navigating a market devoid of "pricing hopium" requires airtight analysis. My next Property Business Workshop is coming up, and we are focusing entirely on Due Diligence. If you want to stop guessing and start running the real numbers on your acquisitions, secure your spot now: www.tinyurl.com/pbweleven [https://gemini.google.com/app/b09db91517d3ada0] Welcome back to the Propenomix Podcast. In this episode, we are breaking down my latest article and deep-dive: "Whisky Carrots, Tech Sticks, and The Death of Pricing Hopium." We are officially in an era where sentiment and headlines don't pay the bills - structural data, deep economic analysis, and pragmatism do. Today, we cut through the noise to explore the macroeconomic drivers actually influencing UK property returns right now. We discuss what I refer to as "Whisky Carrots" (the genuine, mature incentives and opportunities in the market) versus the "Tech Sticks" (regulatory pressures, EPC targets, and compliance data forcing landlords' hands). Most importantly, we dissect the "Death of Pricing Hopium" - why the era of waiting for zero-interest-rate valuations to magically return is over, and why sellers and investors must finally face the reality of the current economic cycle. If you want to make investment decisions with confidence rather than fear, grab a notebook. It's time to look at the real numbers. CHAPTERS & TIMESTAMPS: * Introduction & Cutting Through the Property Headlines * The Macro Landscape: Inflation, Yields, & The Reality of the Economy * What are "Whisky Carrots"? (Finding Genuine Value & Mature Incentives) * The "Tech Sticks": EPCs, New Regulations, and The Cost of Non-Compliance * The Death of Pricing Hopium: Why Sellers Must Face Reality Now * Capital Flows, Commodities, & Global Macro Trends into 2027 * Adapting Your Property Strategy (Hold, Fold, or Refinance?) * Audience Q&A: 4% Mortgages, Margins, & Portfolio Restructuring * Final Thoughts & How to Read the Sunday Supplement RESOURCES & LINKS: 🎟️ Join the next Property Business Workshop (Focus: Due Diligence): Bulletproof your acquisition strategy by booking your ticket here: www.tinyurl.com/pbweleven [https://gemini.google.com/app/b09db91517d3ada0] 📖 Read the original article: https://www.linkedin.com/posts/adamglawrence_propertymarket-macroeconomics-ukhousing-ugcPost-7456620611306606592-7_aZ [https://www.linkedin.com/posts/adamglawrence_propertymarket-macroeconomics-ukhousing-ugcPost-7456620611306606592-7_aZ] ✉️ Subscribe to the Sunday Supplement Newsletter: https://propenomix.com/ [https://propenomix.com/] 💼 Connect with Adam on LinkedIn: https://linkedin.com/in/adamglawrence/ [https://www.google.com/search?q=https://linkedin.com/in/adamglawrence/] ABOUT ADAM LAWRENCE: Adam is the founder of Propenomix, author of the acclaimed Sunday Supplements economic newsletter, and host of the Propenomix Podcast. With a corporate background in wealth management and a property career that started in earnest in 2011, Adam has been involved in over 850+ UK property deals and portfolios. His approach blends real economics, structural data, and practical investor experience to empower you to build strategies that align with real capital markets. Enjoyed the episode? Please hit "Follow" on Apple Podcasts, Spotify, or wherever you listen, and consider leaving a rating and review to help spread the word of Propenomix.

Lowering the Speed Limit to Save the Economy (And Other Bureaucratic Delusions)

The Strait of Hormuz is effectively closed , Brent crude has blasted past $100 a barrel , and the Bank of England has slammed the brakes on rate cuts . Welcome to another essential reality check on this week's Propenomix Supplement. We are stripping away the mainstream noise to look at exactly how global geopolitics, staggering private credit failures, and a flatlining UK economy are impacting your portfolio right now. The facts have changed, and your strategy needs to change with them. What we cover in this week's episode: * Geopolitics & Trumponomics: Tariffs are back on the menu with a maximum threat of 15% . Meanwhile, the Middle East conflict is sending European wholesale gas prices up nearly 100% on the month . * The UK Property Market: We've hit a 10-year high for March listings . Transactions are functional , but the glut of supply has led to the longest average time to sell since 2013 . * Bond Market Bloodbath: The flagship 10-year gilt is threatening the 5% yield mark for the first time since the financial crisis . We discuss why you must stress-test your debt exits at 6% to 6.25% . * Deep Dive: The £1.7bn MFS Collapse: A forensic look at the Market Financial Solutions administration . We break down the "double pledging" allegations , the massive institutional contagion , and the incoming fire sale of 250 Prime Central London properties . * Bank of England's 9-0 Hold: Why the MPC voted unanimously to hold the base rate at 3.75% , the BoE's expectation that inflation will bounce back to 3.5% , and the very real threat of stagflation as GDP crawls at 0.1% . * The Labour Market & Construction: Why self-employment plummeted by a staggering 242k in 2025 , how businesses are turning to automation instead of hiring , and why the 1.5m homes goal is an utter pipedream as planning apps fall again . * Generation Rent's EPC Fantasy: Breaking down the new £10,000 EPC cost cap and why backdoor rent controls will simply drive landlords to sell up and buy 5% government bonds instead . This is not a time for marginal deals . Tune in to get the raw data and the macroeconomic perspective you need to defend your portfolio and spot the generational acquisition opportunities hiding in the distress . Listen now on all major platforms.

The Per-Capita Recession, 4% Mortgages, and Why 'Wait and See' is the Only Strategy

We are officially in a per-capita recession, meaning the average person in the UK is getting steadily poorer, despite the headline vanity metrics trying to suggest otherwise . In this week's agenda-free UK Property and Macroeconomic roundup, we cut through the noise of the mainstream headlines to deliver the unvarnished reality of the market . Mortgage rates are all over the place, with the potential of rates being cut in the US while being raised in the UK . As Mohamed El-Erian points out, "We are navigating a global economy that is structurally different, not just cyclically delayed. The old playbooks will not work" . If your business model is built on waiting for cheaper debt, you need to change the model or move on . Grab your black armbands, because we are diving deep . In this episode, we cover: * Macro Headwinds & Trumponomics: We discuss the ongoing war, the intense volatility in the oil market, and the US Trade Representative's investigation into 60 major economies for "forced labour" and "manufacturing overcapacity" . * The Illusion of Growth: We break down the latest GDP Growth report, which printed 0% for growth in January, and explain why the 0.1% uptick in Q4 2025 masks underlying weakness . * Property Market Reality Check: A deep dive into the RICS Residential Market Report and Hometrack's Rental Market Index . We explore why rental supply is still 23% below pre-pandemic levels and why the Buy to Let sector represented just 8.4% of gross mortgage advances in Q4 2025 . * The Ground Rent Farce: We expose how the proposed £250 cap on ground rents will inadvertently deliver an estimated £8.7 billion windfall to property investors rather than helping owner-occupiers . * Demand Support & The SME Crisis: An analysis of the LPDF and Savills report on introducing demand support, and why SME developers are capturing an increasingly small share of the new build market . * Gilts & Swaps: The 5-year gilt yield closed the week at 4.35%, and we explain why the next move the Bank of England makes might actually be a rate hike . Links & Resources: * Our next Property Business Workshop is selling fast! Join us on Wednesday 22nd April in Central Manchester to discuss tax, risk, deal structuring, and exit options . * Secure your tickets here: www.tinyurl.com/pbwten [https://www.google.com/search?q=https://www.tinyurl.com/pbwten] Keep Calm, ALWAYS listen to or read the Supplement, and Carry On .

The Death of Leasehold & The London Construction Collapse

In this jam-packed episode of Propenomix, we navigate the collision of global macroeconomics and the gritty reality of the UK property market. From the "bull in a china shop" impact of Trumponomics on UK SMEs to the legislative earthquake of the Commonhold and Leasehold Reform Bill, we strip away the headlines to reveal what the data actually says. We deep-dive into the "death of leasehold" and the radical 50% threshold for commonhold conversion, dissect the government's £39bn social housing pledge, and analyze why London's Build-to-Rent sector is facing a construction "cardiac arrest." Plus, we explore why "capital allocators" see yields differently than the rest of us. In This Episode: 🌍 The Macro View: Trumponomics & Trade Wars * How UK firms are reacting to US tariff threats and the rise of the "Anti-Coercion Instrument." * Why 21% of UK SMEs now rate US tariffs as their #1 economic concern. 📈 The Market Data: Listings, Lags & Regional Winners * Chris Watkin's Stats: A 10-year record for reductions and the return of the "listings glut." * Zoopla Index: Why the North West is surging (+3.5%) while London stalls, and the "discipline" dominating Southern sellers. * Scotland's Warning: Evidence of landlord consolidation and the 8% LBTT sting. ⚖️ Legislative Deep Dive: The Commonhold Revolution * The "Feudal" End: The ban on new leasehold flats and the £30k fines enforcing it. * The 50% Threshold: How a simple majority could drag an entire block into commonhold (and what happens to the dissenters). * Ground Rent Caps: The £250 cap, the 40-year sunset clause, and the abolition of forfeiture. 🏗️ Sector Spotlight: Social Housing, Co-Living & BTR * Social Housing: The truth about the £39bn fund and the "free money" 0.1% loans for providers. * The S106 Emergency: Why the "clearing service" is really a distressed asset register. * Co-Living Goes Mainstream: Why Earls Court is betting big on co-living and the shift to on-site affordable housing. * Build-to-Rent Reality Check: The "delivery lag"—why completions are up 13% but starts have collapsed by 80% in London. 🧠 The Propenomix Philosophy * Yields vs. Growth: Understanding the mindset difference between "BRR hustlers" and institutional "capital allocators." Key Quotes: "The 'London Premium' has become a 'London Penalty.' Construction costs in the capital are eye-watering, and investors are voting with their wallets." "The government is trying to make commonhold robust... but the reliance on members voting for budgets fills me with dread." Links: Adam's LinkedIn: https://www.linkedin.com/in/adamglawrence/ [https://www.linkedin.com/in/adamglawrence/]Daily PropenomAIx Newsletter: https://www.linkedin.com/newsletters/7392088970785878016/ [https://www.linkedin.com/newsletters/7392088970785878016/]Propenomix YouTube: https://www.youtube.com/@propenomixwithadamlawrence [https://www.youtube.com/@propenomixwithadamlawrence] Weekly Sunday Supplement Newsletter: https://www.linkedin.com/newsletters/propenomix-sunday-supplement-7164384154992771072/ [https://www.linkedin.com/newsletters/propenomix-sunday-supplement-7164384154992771072/]