Assuming brexit goes ahead what are your thoughts on house prices? Like most people I suspect, my main asset value is my house and I'm worried that prices will fall following a probable economic fall. Would it be the smart thing to sell then rent then buy again after brexit?
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House prices post brexit - thoughts?
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Posted 1 hour ago #
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Yeah, do that. Let us know how it goes
Mods - can you leave this thread unlocked for 5 years please
Posted 1 hour ago # -
Would it be the smart thing to sell then rent then buy again after brexit?
Go have a quick look at the fee's plus 12 months of rent and see how much you need it to drop to come out even.
The bigger worry for house prices is the years of wage stagnation and high levels of personal debt meaning that new people entering the market do not have the funds to sustain growth without brexit.Posted 1 hour ago # -
Unless theres a huge housebuilding boom there will still be a shortage of housing.
If you live in a nice house then I wouldn't worry too much.
Depends on the area you live in, I suppose, how much equity etc
Posted 1 hour ago # -
Personally I'd say it'd be a crazy time to make a gamble like selling up with a view to buying again. Your house falling in value won't have any impact on your ability to live in it so why worry about that? House prices are likely to keep on rising anyway imo.
Posted 1 hour ago # -
Selling in anticipation of a drop is high risk as you're gambling a long term investment on a short term event, given the wierd volatility of the market over the last decade I really wouldn't do this right now especially since the bank bailout was all about maintaining property values and I'm not sure brexit affect house prices.
Posted 1 hour ago # -
Usually doing the thing that involves the less people handling your money is the cheapest. (I have no idea of finance or house moves)
Posted 1 hour ago # -
The housing market is due for a dip, but “experts” have been saying that for the past 20yrs since the days of negative equity.
Prices may be forced flat, or even dip a bit (say 10%) in real terms nothing’s happened unless you’ve bought a house recently... that’s when it’ll hurt, or you have to move to find work and are left with a property in an area where your job isn’t.
Biggest issue IMO is the workplace, the uncertainty and major corporations cutting jobs (in the name of Brexit) when the real reason is they’ve wanted to trim headcount for years and this is a perfect excuse...
Which leads right back to housing affordability doesn’t it..Do what you like, it’s not the first time uncertainty has entered the marketplace.
And FWIW I sold my Appt in London not long after Brexit when prices were still buoyant, now they’ve flattened and dipped in certain areas, but the Chinese are coming over and buying places so they seem to think London’s still a place to aspire to live in. It’s really just a different ethnic profile buying places..
Posted 1 hour ago # -
The breeders will still breed and keep demand for housing at a premium
Posted 1 hour ago # -
Fantombiker » Like most people I suspect, my main asset value is my house and I'm worried that prices will fall following a probable economic fall.
Why, were you planning on realising your asset in the near future? People do have some funny ideas about how rich they are because of the value of something they need to own.
Posted 1 hour ago # -
I suspect the overpriced london / home counties houses may fall / stagnate in value as overseas buyer drop out of the market but otherwise? No.
Selling / renting then buying again is a gamble on a huge price drop that I see as unlikely
Posted 1 hour ago # -
Houses are to live in, if you need to downsize then probably a good time to sell, bigger houses will lose great £££s than smaller houses in a market downturn.
I know locally 1-2-3 bed houses have really stagnated over the last ten years but 4-5 bedrooms are at a big premium, families demand bigger houses..
Posted 1 hour ago # -
I suspect that there will be considerably greater inward investment from countries where investors are keen to offshore their money.
With further devaluation of Sterling and most importantly the UK not signing up to the impending EU Tax requirements we'll be overwhelmed by foreign property speculators building either ethno-claves or PRS.
Whilst central London is unlikely to change significantly there'll be significant foreign funded developments in towns and cities such as Liverpool, Newcastle and Glasgow.Posted 1 hour ago # -
Question is OP do you need to move soon or do you have a plan of when you want to?
The best way to make money out of moving is downsizing (or buying a fixer upper in a crummy area in the hope it gentrifies) so if you can do those then make a plan
Posted 1 hour ago # -
And there's everything wrong with our housing market right there.
It's a place to live, not an asset to try to use to hedge Brexit risk.
Posted 1 hour ago # -
Brexit is only one variable we should be talking about regarding house prices.
If you want to talk about catastrophic effects on house prices let's talk about what happens when the baby boomers start to die in large numbers.
There are 5 million baby boomers. 80% of them own their own home. Those homes are the top end of the housing stock typically. There are 25 million homes in the UK, which means that in the next five to ten years, 16% of our housing stock is going to come onto the market for sale.
Shall we talk about what happens to house prices then?
Posted 1 hour ago # -
Brexit won;t affect prices that much. Building millions of actually affordable homes, council houses that can't be sold to the person renting it and putting in rent caps are the sort of things that would do that and we don't have any progressive enough government for that to ever happen.
Posted 58 minutes ago # -
Building millions of actually affordable homes, council houses that can't be sold to the person renting it and putting in rent caps are the sort of things that would do that and we don't have any progressive enough government for that to ever happen.
Amen to that!
Housing and pensions are easily this country's two biggest issues.
Posted 51 minutes ago # -
Naa, the tories have it sussed! House building is going ahead round here, over 900 to be built where we live & around 3000 going up between here & York, near Green Hammerton. (Theyr'e the ones I know about)
Affordable? Oh aye, starting around 280K!Posted 43 minutes ago # -
My mortgage has 16 years to run. I’ve just agreed a 2.5% 10 year fix, mainly due to brexit uncertainties. I dont want to be caught unable to remortgage if the market drops.
Posted 37 minutes ago # -
Doesn't make any odds to me what my house is worth.
The change in agricultural policy may be interesting, given a decade. It's all sheep around me, so trees are cleared and land is drained. Change in subsidies could change the landscape.
Posted 36 minutes ago # -
And a field that previously yielded no tax return now provides 900 sets of poll tax. Free money for the council.
Of course they could use it to improve the amnesties needed for these houses or...just spunk it.
I say NO MORE HOUSE BUILDING WITHOUT THE FACILITIES FOR THE PEOPLE WHO LIVE IN THEM.
Put a massive tax on overseas buyers to cool the London market and its countrywide ripple.
A single house means 4 more cars parked on the path, longer waits for health care and a struggle to get kids in a school.
New homes just benefit the developer and corrupt council officials.
Save our green spaces.Posted 32 minutes ago # -
NO MORE HOUSE BUILDING WITHOUT THE FACILITIES FOR THE PEOPLE WHO LIVE IN THEM
What do you mean by FACILITIES?If there is a demand for something the market will provide.
Posted 30 minutes ago # -
New homes just benefit the developer and corrupt council officials.
Save our green spaces.
But nimby there. There needs to be a lot of houses built in the UK, a lot of empty houses back in use and more amenities unless you have a way of dropping the population.Posted 29 minutes ago # -
There needs to be a lot of houses built in the UK, a lot of empty houses back in use and more amenities unless you have a way of dropping the population.
More houses doesn't mean more people.Posted 25 minutes ago # -
Just downsized, quids in, pretty relieved we got it sorted before the big recession that's coming tbh.
Posted 20 minutes ago # -
If there is a demand for something the market will provideMassive splurge of flats being built and office blocks being converted to residential here in our bit of sw London , no apparent increase in doctors surgeries, schools or hospitals though
Posted 13 minutes ago # -
Unless theres a huge housebuilding boom there will still be a shortage of housing
More than 250,000 homes are currently empty, there is no shortage.
Posted 4 minutes ago # -
Massive splurge of flats being built and office blocks being converted to residential here in our bit of sw London , no apparent increase in doctors surgeries, schools or hospitals though
Does that actually change demand? Doesn't it just redistribute the same people a bit more thinly?There may be exceptions, both of decrease and increase in demand, but on balance it's the same people in more houses.
Posted 26 seconds ago #
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