House sales up, down or stay as they are??

chucky

new_home_owner wrote: »

I dont think it is really, people are going on about a load of houses coming on the market at low prices, due to the capital gains tax and btl investors looking for a quick sale.

If this happens and fist time buyers get decent mortgage rates we could see a glut of first time buyer properties come on the market at bargain prices, and these first time buyers might snap them up, hence house sales increasing but prices not going higher.

do you think demand may not take up that new supply.

new_home_owner_3

chucky wrote: »

do you think demand may not take up that new supply.

It may well do, but it may take a bit of time im only talking about the next 12 months, i think has soon as the emergency budget is announced we will see things happen.

I mean the reports are there going to be a large exodus of btl properties up for sale, after the emergency budget, what type of properties we will have to wait and see, but i think they will mostly be 1-2 bed room flats/ apartments.

chucky

new_home_owner wrote: »

It may well do, but it may take a bit of time im only talking about the next 12 months, i think has soon as the emergency budget is announced we will see things happen.

I mean the reports are there going to be a large exodus of btl properties up for sale, after the emergency budget, what type of properties we will have to wait and see, but i think they will mostly be 1-2 bed room flats/ apartments.

is this fact or an assumption - i've seen no-where that this is going to happen

Thrugelmir

new_home_owner wrote: »

I dont think it is really, people are going on about a load of houses coming on the market at low prices, due to the capital gains tax and btl investors looking for a quick sale.

If this happens and fist time buyers get decent mortgage rates we could see a glut of first time buyer properties come on the market at bargain prices, and these first time buyers might snap them up, hence house sales increasing but prices not going higher.

Not sure BTL investors are going to sell at firesale prices. If a decent price isn't achievable might as well hang onto the property for the longer term.
Investment shouldn't just be driven by tax. As much as taxation might rise in the medium term, in the longer term tax rates should decline again.

lostinrates

Thrugelmir wrote: »

Not sure BTL investors are going to sell at firesale prices. If a decent price isn't achievable might as well hang onto the property for the longer term.
Investment shouldn't just be driven by tax. As much as taxation might rise in the medium term, in the longer term tax rates should decline again.

If I owned multiple properties and were going to be subject to tax on the sale then I think this would prompt me not to sell them but use the income/equity and let my estate deal with the rest one day. Even though I am not opposed to the taxation itself.

new_home_owner_3

chucky wrote: »

is this fact or an assumption - i've seen no-where that this is going to happen

http://citywire.co.uk/personal/-/news/money-property-and-tax/content.aspx?ID=399228

chucky

new_home_owner wrote: »

http://citywire.co.uk/personal/-/news/money-property-and-tax/content.aspx?ID=399228

they're all obviously heading to sell - all 2 of them... lol

from your article

The NAEA said estate agents had an average of 62 properties on its books during April, up from 60 in March

new_home_owner_3

chucky wrote: »

they're all obviously heading to sell - all 2 of them... lol

from your article

Thats states that each estate agent had 2 extra properties on their books in april more than march, this was before the election, and before any mention of capital gains going up. i think you will see a lot more than 60 or even 62 properties from each estate agent, especially when capital gains goes up.

Not only this it looks like hips are going to be scrapped, this will give the chance sellers, who think why not try and sell we have nothing to lose.

chucky

new_home_owner wrote: »

Thats states that each estate agent had 2 extra properties on their books in april more than march, this was before the election, and before any mention of capital gains going up. i think you will see a lot more than 60 or even 62 properties from each estate agent, especially when capital gains goes up.

Not only this it looks like hips are going to be scrapped, this will give the chance sellers, who think why not try and sell we have nothing to lose.

so it's not CGT now but now it's because of HIPS now. ok then.

new_home_owner_3

chucky wrote: »

so it's not CGT now but now it's because of HIPS now. ok then.

I said why i think house sales will go up, but i think it will be a combination of no hips, btl landlords selling to cash in before large capital gains and also mortgage rates getting better for first time buyers.

I havent said house prices will go up and that wasnt what this thread was about, you have came on here and not answered the original post, what do you thinks going to happen.

why dont you tell us what you think instead of making statements.

do you think house sales will go up?

If no why?

if yes why?

or will they stagnate and why?