If we vote for Brexit what happens

sheff6107

Continued stagnation of the market is the most likely scenario in my opinion. Lack of homes for sale is holding prices up, and a drop in interest rates and continued decent rates will probably cancel things out.

Everybody is looking for a big price crash but I wouldn't be surprised to see prices remain static and 12 months down the line buyers will have been wondering why they have been sitting on their hands.

Crashy_Time

DRP wrote: »

looking at your username, who'd have thunk it?

Yeah, well I can`t be accused of trying to "sneak" on to the boards and spread "negative rumours" can I? :rotfl:

Crashy_Time

sheff6107 wrote: »

Continued stagnation of the market is the most likely scenario in my opinion. Lack of homes for sale is holding prices up, and a drop in interest rates and continued decent rates will probably cancel things out.

Everybody is looking for a big price crash but I wouldn't be surprised to see prices remain static and 12 months down the line buyers will have been wondering why they have been sitting on their hands.

You have to account for the BTL situation and potential job losses due to Brexit as well though?

Niv

Crashy_Time wrote: »

You have to account for the BTL situation and potential job losses due to Brexit as well though?

You do need to take this into account, but I do not think that this will lead to a 'crash' as people still need somewhere to live and do not believe it will be as big an impact as 2008 (for example) where (in my area) prices took a downward trend for a period (I would not describe it as a crash by any means) and are now back above those levels.

jimpix12

http://www.standard.co.uk/news/london/london-house-prices-slashed-after-brexit-vote-a3285731.html

BUY BUY BUY!

NewHomeOwner_2

spunko2010 wrote: »

http://www.standard.co.uk/news/london/london-house-prices-slashed-after-brexit-vote-a3285731.html

BUY BUY BUY!

So when they say last May and last June do they mean the months just gone or last year? Because if it was last year no wonder they are reducing the price :rotfl:

Seriously though, even the other two say January and February. If you put your house on the market in Jan/Feb and it didn't sell then you would probably have been looking to reduce your price whether brexit happened or not!

The article would have had much more impact if they'd have shown properties for reasonable amounts listed just before the referendum and then slashed a week later. So why didn't they? Not real evidence?

Just need that 3.35 million one to come down another 99% and then I'm in!

lydriver

the cheapest property mentioned in that article is a 450k studio flat reduced to 380, and that's just what a developer is saying they WOULD charge now, not even a real example!

sheff6107

Crashy_Time wrote: »

You have to account for the BTL situation and potential job losses due to Brexit as well though?

BTL is more geography dependent though. It's more relevant for city centre flats (for example) than high end rural properties.

The assumption is that EU exit = job losses, but even if that is true, when would that occur? We won't even leave the EU for at least 20 months. Nobody is really explaining why a recession is supposed to occur - the assumption is that big multinationals will simply move out of the country but what evidence is there?

cloo

Yes, as spunko says the Evening Standard is already expecting us to get out our little violins because super prime London property is having 'prices slashed' to a few million less as the money from abroad pulls out.

jimpix12

It's all about sentiment. If people see that Central London crashes then the Home Counties will too.

I've been accused of being a crashist so the obligatory BUY BUY BUY is added for balance.