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4,000,000 to need UK housing!
amcluesent
Posts: 9,425 Forumite
Four million expats want to come home as savings and income plunge along with the pound
"Almost 4 million Brits living abroad are planning a mass return to home shores after seeing their savings and income stripped by the plunging values of the pound and their property.
The warning signs that hundreds of thousands of Brits may be ready to return to the UK started when the credit crunch began in 2008. That year, the number of expats returning home jumped by a fifth on the previous 12 months."
Additional demand should boost UK house prices, although only at the lower-end as ex-pats have lost so much on their ill-judged foreign adventures.
The warning signs that hundreds of thousands of Brits may be ready to return to the UK started when the credit crunch began in 2008. That year, the number of expats returning home jumped by a fifth on the previous 12 months."
Additional demand should boost UK house prices, although only at the lower-end as ex-pats have lost so much on their ill-judged foreign adventures.
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Comments
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amcluesent wrote: »Additional demand should boost UK house prices, although only at the lower-end as ex-pats have lost so much on their ill-judged foreign adventures.
If this the case, would they be competing / replacing the FTBer market?:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Add to that the influx of EU migrants looking for a cheap deal now that Stirling is equal to the Euro and that fact that nobody's been building houses for the last two years and you've got a big supply problem on your hands.0
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They want to come back! Are they nuts?
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Lets just assume they all come back.
Whatever political party's policy is to build homes for these people are automaticlly going to get in. There wouldnt be a house price crash, more of an apocolpse, 4 million voters get whatever they want, when they want it.0 -
Lets just assume they all come back.
Whatever political party's policy is to build homes for these people are automaticlly going to get in. There wouldnt be a house price crash, more of an apocolpse, 4 million voters get whatever they want, when they want it.
Just how quickly do you think it would take to build homes for 4 million people?:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »Just how quickly do you think it would take to build homes for 4 million people?
2-3 years, if that.0 -
Blacklight wrote: »Add to that the influx of EU migrants looking for a cheap deal now that Stirling is equal to the Euro and that fact that nobody's been building houses for the last two years and you've got a big supply problem on your hands.
I tend to take all these stories with a pinch of salt, as it is very unlikely that 4 million will return.
But the thing that should be worrying the bears, is the impact that only 20% of those numbers returning would have.
A sudden influx of even 800,000 would spike up house prices and rents in a fairly dramatic way.
There's only 650,000 houses on the market in total, and far less than that for rent.
Even if they have a house here already, it'll probably be rented out, and so they'll remove it from the rental supply when they return.
As I said, I doubt such a thing will happen, but if it does......“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
They have to sell first. I know 2 people who laughed up their sleeves as they went off to Spain. 6 years on the novelty of sitting in the sun all day has worn off and they are unable to sell their properties, in the meantime the houses they left behind have rocketed and they can't afford to move back to their original location anyway.0
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IveSeenTheLight wrote: »Amd how many homes were built in the last 2-3 years?
Look into China, when there is the polical will, most things are easy.0
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