If we vote for Brexit what happens

MobileSaver

smile88egc wrote: »

I would suggest that a strong likely good prices will drop over the next 12 -18 months ... now is way too risky a time to be buying at an inflated price.

It's a gamble.

Let's say you're right and prices drop, what does the OP do in 18 months time? Wait for another 18 months because prices might drop further? Also remember that prices don't just drop in isolation; if the market falters it is very likely that it will be harder to get a mortgage - not much help to the HPC crowd who find they still can't get onto the property ladder even if prices do dip a little.

Let's say your wrong, the OP waits for 18 months only to find houses are the same price or god forbid even a little higher then.

All the time you are paying rent to pay your landlord's mortgage and your life is on hold; I know what I'd do and have done.

I've said it before and I'm sure I'll say it again: "Trying to time the market is a mug's game."

Thrugelmir

ukcarper wrote: »

Some investors do and some are in it for the long term none of the landlords I know are even considering selling thier property.

I agree. There's an obsession amongst some of my friends with property. At the expense of any other form of investment. Quite worrying in fact.

smile88egc

MobileSaver wrote: »

It's a gamble.

Let's say you're right and prices drop, what does the OP do in 18 months time? Wait for another 18 months because prices might drop further?

OP doesn't have to wait 18 months, prices are dropping NOW and vendors are accepting offers under asking price, and taking reductions on previous offers.
It won't be long until there is enough data to evidence that this is happening nationally and is a significant change post Brexit vote.

ukcarper

smile88egc wrote: »

OP doesn't have to wait 18 months, prices are dropping NOW and vendors are accepting offers under asking price, and taking reductions on previous offers.
It won't be long until there is enough data to evidence that this is happening nationally and is a significant change post Brexit vote.

What proof have you that that is happening.

vivatifosi

Interesting article on Brexit impact on finance (euro clearing), and impending "row" between EU and Chancellor Hammond:

http://www.telegraph.co.uk/business/2016/07/16/hammond-to-fight-eus-1-trillion-power-grab/

buglawton

ruelle wrote: »

Prices to drop by 4% next year

http://www.telegraph.co.uk/business/2016/07/16/uk-to-skirt-recession-as-house-prices-drop-and-joblessness-climb/

Excellent! That means my £ will be worth 4% more per brick.

jimbog

ruelle wrote: »

Prices to drop by 4% next year

http://www.telegraph.co.uk/business/2016/07/16/uk-to-skirt-recession-as-house-prices-drop-and-joblessness-climb/

Not 5%, nor 3%, but 4%.
Only the other day there was no certainty about anything, but luckily now that's all behind us

Rinoa

vivatifosi wrote: »

Interesting article on Brexit impact on finance (euro clearing), and impending "row" between EU and Chancellor Hammond:

http://www.telegraph.co.uk/business/2016/07/16/hammond-to-fight-eus-1-trillion-power-grab/

Yes. Far from being the harmonious integration of 28 countries all working together for the common good, in reality it's each country looking after its own interests even when it's to the detriment of others.

Glad we're out.

MobileSaver

smile88egc wrote: »

OP doesn't have to wait 18 months, prices are dropping NOW

Let's say you're right, on that basis prices will be even lower a month from now so the OP should wait a month. But hang on, in a month's time you may think prices will be even lower after another month and so it goes on month after month... where does it end?

The danger with that approach is that you end up like Crashy; renting and out of the property market for something like 18 years with absolutely no chance of prices ever dropping back to what they were 18 years ago. All the while you are paying someone else's mortgage for them when you could have almost paid off your own mortgage and are living in a property you don't really want to be in when you could be living in your own place.

jimbog

jojo_bambi wrote: »

I'm near the end of the house buying process and just asked for a discount on the house in light of the economy uncertainty. Now not heard anything in a couple of days... do you think this was the right thing to have done?!

Did your give your buyer a discount?