Debate House Prices


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Predictions of 50% falls now hitting mainstream in the Independent

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Comments

  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    bob79 wrote: »
    Since the UK imports many goods (oil, food, electronics...) the drop of the pound will actually make the average Brit significantly poorer due to the effect on inflation.

    And the price of houses very tempting to foreign speculators :j
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    StevieJ wrote: »
    And the price of houses very tempting to foreign speculators :j

    I can't see too many rich foreigners being tempted to buy a 2-bed FTB terrace in Wigan somehow...

    And speculating in an obviously failing market that looks like it has much further to fall isn't the brightest of investment strategies.
    --
    Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    !!!!!!? wrote: »
    I can't see too many rich foreigners being tempted to buy a 2-bed FTB terrace in Wigan somehow...

    And speculating in an obviously failing market that looks like it has much further to fall isn't the brightest of investment strategies.

    very true but in "normal" market people get displaced from their property due to circumstances that makes them have to go to Wigan and live due to not being able to upgrade in their preferred area.
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    StevieJ wrote: »
    And the price of houses very tempting to foreign speculators :j
    You'd think if the houses were becoming tempting due to currency moves then other investment opportunities such as Woolies would also be tempting? Apparently not. I think the Wigan example works well. With a strong pound a UK investor might well think - mmm - Bulgaria, Spain, anywhere really other than damp and slightly depressing England. But I am not sure what country / currency combination exists that makes Wigan tempting.

    For Wigan read any English town really - apart from the glam towns like Bath / Oxford /etc.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    mewbie wrote: »
    You'd think if the houses were becoming tempting due to currency moves then other investment opportunities such as Woolies would also be tempting? Apparently not. I think the Wigan example works well. With a strong pound a UK investor might well think - mmm - Bulgaria, Spain, anywhere really other than damp and slightly depressing England. But I am not sure what country / currency combination exists that makes Wigan tempting.

    For Wigan read any English town really - apart from the glam towns like Bath / Oxford /etc.

    Kent? ;)

    http://www.kentnews.co.uk/kent-news/Falling-pound-could-tempt-French-companies-to-Kent-newsinkent18891.aspx
  • Bernie
    Bernie Posts: 412 Forumite
    "Won't be long before those from abroad start noting the bargain-basement prices to them in terms of Euros/whatever. With the general drop in house prices, coupled to the plummetting pound Sterling, housing stock (and companies) must be looking extremely cheap to anyone with a chestful of a decent currency..."

    While the UK may not have the obvious attractions of sunnier climes, for anyone (or business) that visits regularly, buying a house/flat now where you visit must be becoming a no-brainer! With the double billy-bonus of property prices dropping 25 - 30% coupled with the 33% drop in Sterling, Mr Johnny Euro must be looking at a nifty halving of the price of UK property/businesses in the space of a few months.

    If the situation was reversed, I'd be shopping....

    :beer:
    “When I was a boy of fourteen, my father was so ignorant I could hardly stand to have the old man around.

    But when I got to be twenty one, I was astonished at how much he had learned in seven years.”

    Mark Twain
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    chucky wrote: »
    Kent? ;)

    http://www.kentnews.co.uk/kent-news/Falling-pound-could-tempt-French-companies-to-Kent-newsinkent18891.aspx
    Some positive spin in that piece I'll give you that, although it is largely fluff straight from the company line.

    But even then not very clear on property...

    "While French businesses appear keen to invest in Kent, an estate agent in the county was unsure whether the same would be true for the residential property market.

    A spokeswoman for Hobbs Parker Estate Agents in Ashford said: “It makes sound financial sense for them but the French are not great buyers of property they tend to rent.
    "
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    mewbie wrote: »
    Some positive spin in that piece I'll give you that, although it is largely fluff straight from the company line.

    But even then not very clear on property...

    "While French businesses appear keen to invest in Kent, an estate agent in the county was unsure whether the same would be true for the residential property market.

    A spokeswoman for Hobbs Parker Estate Agents in Ashford said: “It makes sound financial sense for them but the French are not great buyers of property they tend to rent.
    "

    lots of spin - i'll come back to you with a better one :D
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    chucky wrote: »
    lots of spin - i'll come back to you with a better one :D
    It's OK, I give in already (tea soon). I accept that falling pound makes UK assets worth a look from overseas. I don't think it will save the housing market though. Or the retail market, or the car industry, etc.

    But. tbh - I welcome any positive news, I want to be bullish about the new year.
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    chucky wrote: »
    Kent? ;)

    http://www.kentnews.co.uk/kent-news/Falling-pound-could-tempt-French-companies-to-Kent-newsinkent18891.aspx

    That might well have been written by my sister, I'll ask her (-:
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
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