72.5m population by 2032 + criminal council tax hikes

The Property Nomads Podcast

Rob discusses two significant topics affecting the UK: projected net migration and its impact on the population, as well as alarming council tax hikes across various regions. The Office for National Statistics forecasts that the UK population will rise to 72.5 million by 2032, primarily driven by net migration, which could lead to increased demand for housing. Rob encourages listeners to consider investing in property, emphasising that a growing population will necessitate more housing.

KEY TAKEAWAYS

• The UK population is expected to rise to 72.5 million by 2032, marking a 7.3% increase over the decade, primarily driven by net migration.
• An increasing population will likely lead to a higher demand for housing, which presents opportunities for those looking to invest in property despite prevailing negative sentiments about the housing market.
• Council Tax Hikes: Significant council tax increases are planned in various regions, with some councils proposing hikes as high as 25%, which could affect nearly 4 million residents.
• Financial Mismanagement: Many local councils, particularly in the South, are facing financial difficulties, with some declaring bankruptcy due to mismanagement of public funds, leading to increased tax burdens on constituents.
• Call for Efficiency: There is a need for local councils to streamline operations and reduce workforce sizes to improve efficiency, drawing parallels to successful practices in the private sector, such as those implemented by Elon Musk at X.

BEST MOMENTS

"Net migration is to push the UK population up to 72.5 million, a projected population growth of 7.3% between 2022 and 2032."

"If the population is set to increase sustainably, then from a housing point of view, that could be quite beneficial."

"Council tax hikes are going to be taking place from April, and it seems that councils are really taking the piss."

"We've been taken for a ride in the UK, and it's really not good. It's not healthy by any stretch of the imagination."

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