If we vote for Brexit what happens

Thrugelmir

ruelle wrote: »

5% drop forecast for this year. TBH I've been looking in London and have noticed a lot of reductions.

Given the hysteria that the suspension of commercial property unit trusts has caused. Won't take much to tip the balance negatively.

ruelle

I'm glad. Not just because I'm a FTB but also because we as buyers are taking back the power. I once spoke to an EA about rising prices and he said if everyone stopped paying them, they'd be forced to accept it and prices would go down. Looks like it's finally happening. People power!

glasgowdan

ruelle wrote: »

I'm glad. Not just because I'm a FTB but also because we as buyers are taking back the power. I once spoke to an EA about rising prices and he said if everyone stopped paying them, they'd be forced to accept it and prices would go down. Looks like it's finally happening. People power!

It doesn't work like that's though. There are still the same amount of people wanting houses. They can stall and hesitate because the papers tell them to but they'll still start realising they do want a house. They'll still compete for houses eventually and push prices back up.

Sellers are more reluctant to sell just now which will increase the pressure of demand amd push up prices again!

Thrugelmir

ruelle wrote: »

I once spoke to an EA about rising prices and he said if everyone stopped paying them, they'd be forced to accept it and prices would go down. Looks like it's finally happening. People power!

Markets have limits. Governed by affordability for homeowners, and for investors the return.

ruelle

glasgowdan wrote: »

It doesn't work like that's though. There are still the same amount of people wanting houses. They can stall and hesitate because the papers tell them to but they'll still start realising they do want a house. They'll still compete for houses eventually and push prices back up.

Sellers are more reluctant to sell just now which will increase the pressure of demand amd push up prices again!

You're right. I'm sure this will happen. But in the short term given there's so much economic uncertainty for the next few years, I can't imagine there will be any of the crazy overbidding that was happening pre-Brexit vote for a while.

lydriver

maybe it's different in Scotland? I don't think there's anywhere that has had 50% or anywhere near that, increase in house prices within 2 years (or whatever?)
so are people in areas with huge increases in price thinking they might go back down to the level they were at a few years ago before the mega price increases?
are people expecting the prices in areas that have flatlined or decreased in the past 3-4 years to also crash?

peter_we

The housing market doesn't change in two weeks. If prices are falling now then its nothing to do with brexit. Two months will see if there has been an impact. And the only impact will be from buyers there luck due to the headlines.

Hopefully prices will fall. But Britain leaving the EU wont be the reason.

Hundreds of thousands of people may lose their jobs over Brixit. 80,000 jobs are estimated to move to the EU from the City. UK as an investment destination has taken a severe hit. Tax income from wages will fall, the cost of living is headed up 20%.

There are still the same amount of people wanting houses. They can stall and hesitate because the papers tell them to but they'll still start realising they do want a house. They'll still compete for houses eventually and push prices back up.

There won't be if British people leave for their job and foreigners leave because they are forced to, by the government or the poor economy

ukcarper

peter_we wrote: »

Hundreds of thousands of people may lose their jobs over Brixit. 80,000 jobs are estimated to move to the EU from the City. UK as an investment destination has taken a severe hit. Tax income from wages will fall, the cost of living is headed up 20%.



There won't be if British people leave for their job and foreigners leave because they are forced to, by the government or the poor economy

Those thing may or may not happen but they won't happen over night and it's much to early to tell what is going to happen in the housing market.

glasgowdan

ruelle wrote: »

You're right. I'm sure this will happen. But in the short term given there's so much economic uncertainty for the next few years, I can't imagine there will be any of the crazy overbidding that was happening pre-Brexit vote for a while.

The market in my area is still booming, houses going to closing dates and prices over value, just as it was a month ago.

wotsthat

baza52 wrote: »

So if the European union say free movement for EU citizens but restrict the rest of the worlds free movement is that racist?
Is that not also discrimination?

How about the England football team only allowing English players? Racist?

This is Racist by your definition so why is it allowed?
http://creativeaccess.org.uk/opportunities

All roles advertised through Creative Access are only open to UK nationals from a black, Asian or non-white ethnic minority.

It's nice work Barry and definitely food for thought but the obvious elephant in the room is you're a racist. I don't think I could prove it beyond a reasonable doubt but on a preponderance of the evidence probably.

Who do you think you're kidding?