"Thousands" of London flats to come to the market

AG47

buglawton wrote: »

All property prices in the UK just now fell by 10%.
To foreign buyers holding $ that is.

And the pound has a lot further to fall this why until interest rates go back up a long way nearer to normal, all the foreign investors now want to sell up, before the pound is much much lower

AG47

Right now there are many members of the European Union that were emboldened by the UK vote to Leave the EU. They are feeling nationalistic and see the UK decision as a positive thing.

Unless the EU and the Bad Guys PROVE that it is a very bad move ALL of the EU counties will try to leave.

If the stock markets continue to soar over the next few weeks it will have a very, very, very negative effect on the European Union and those that want to show the world that there is no other choice but to follow their lead.

Watch for a MASSIVE attempt by the EU and the Bad Guys to destroy the financial markets in the coming weeks as it will be the only thing left to save the EU. Come mid-July, when the derivatives are settled, there won't be much left to pass around.

Monday could go either way as the US and the Exchange Stabilization Fund will be all over propping up the markets. In the end the crash will come and then it comes down to blame.

The EU will blame the departure of the UK for the crash.

The battles are raging and you have a front row seat

AG47

Garethgrew wrote: »

The pound is going down not up, this means interest rates have to back up, they can't stay down here much longer.

Even threat of rises will be downward pressure on HP, but when it actually starts going back up, property will crash.

Garethgrew

fun4everyone wrote: »

No chance and funding for ones currently about to start construction will be pulled.

It's not as bad as Spain where construction projects were just abandoned half completed, now full of squatters.

kinger101

The flip side of the coin is that if the pound falls, London property actually becomes cheaper for overseas buyers.

chucknorris

kinger101 wrote: »

The flip side of the coin is that if the pound falls, London property actually becomes cheaper for overseas buyers.

We will be selling a London house soon, I'll let everyone know what our experiences are of the market when we have it on sale.

In the meantime, is anyone selling (in London) at the moment? If so, how are you finding the market?

economic

chucknorris wrote: »

We will be selling a London house soon, I'll let everyone know what our experiences are of the market when we have it on sale.

In the meantime, is anyone selling (in London) at the moment? If so, how are you finding the market?

Where in London is it? I imagine how quickly you sell will be even more location dependent given current uncertainty.

chucknorris

economic wrote: »

Where in London is it? I imagine how quickly you sell will be even more location dependent given current uncertainty.

It is a 4 bed, 3 storey Victorian house in Hackney.

economic

chucknorris wrote: »

It is a 4 bed, 3 storey Victorian house in Hackney.

cool. would be interested how long it takes. much will depend on location and of course where it is priced at.

in a downturn usually location matters a lot more and the rubbish areas take a bigger hit. this is one reason why i moved from kilburn to highgate.

chucknorris

economic wrote: »

cool. would be interested how long it takes. much will depend on location and of course where it is priced at.

in a downturn usually location matters a lot more and the rubbish areas take a bigger hit. this is one reason why i moved from kilburn to highgate.

It is an bit of a state (just cosmetic, nothing structural), a very slightly larger (done up) house a few doors up, went for £1.2m last year, hence our expection of about £1m.