If we vote for Brexit what happens

glasgowdan

As soon as I saw this house listed I thought "holy cow, that's overpriced by about 40k". It's gone under offer barely a week on, no doubt for a good chunk over 400.

No brexit house price drop in the north west of Glasgow!

http://www.rightmove.co.uk/property-for-sale/property-61872215.html

Must be a bubble.

MobileSaver

Crashy_Time wrote: »

Why did the PTB need to step in with emergency measures to prop up the housing market then, if as you believe, market forces were keeping prices high?

Which emergency measures were used to prop up the housing market?

You haven't answered my question...

"Is this shift in sentiment going to result in a House Price Crash this year Crashy?"

buglawton

A_Medium_Size_Jock wrote: »

I have posted this elsewhere but it is appropriate here too:

https://www.ft.com/content/ec53be7c-819d-11e6-bc52-0c7211ef3198

FYI that article's paywalled but by creating a free account at FT you can read this & a handful of FT articles per week.

ukcarper

iantojones40 wrote: »

I said MY area of the NW, obviously I'm not going to give details of my exact location but it's a sizeable proportion of Derbyshire containing approx 3000 1-2 bed houses in total.

And I can assure you when local job opportunities, local wages, local transport infrastructure etc are taken into consideration, the dross that is available for £130k is enough to make any rational person weep.

You obviously want to buy in one of the more expensive areas I would like to live where I was born but I can't afford to and never have been.

glasgowdan

iantojones40 wrote: »

obviously I'm not going to give details of my exact location but it's a sizeable proportion of Derbyshire

Why not? Nobody wants to see your address, but if you were to indicate what region then we might have some reference with which to take your facts seriously.

Crashy_Time

glasgowdan wrote: »

As soon as I saw this house listed I thought "holy cow, that's overpriced by about 40k". It's gone under offer barely a week on, no doubt for a good chunk over 400.

No brexit house price drop in the north west of Glasgow!

http://www.rightmove.co.uk/property-for-sale/property-61872215.html

Must be a bubble.

How do you know how much it has gone under offer for?

iantojones40

ukcarper wrote: »

You obviously want to buy in one of the more expensive areas I would like to live where I was born but I can't afford to and never have been.

It's an area where in 2000 I was able to buy a 3 bed semi and comfortably service and pay off the mortgage in 10 years... on a single, part-time, unskilled wage.

Now, despite all the official stats indicating that property prices in that area are still below 2007 highs everything on the market has an asking price around 10-20% higher than 2007 prices, with vendors unwilling to listen to reasonable offers and quite prepared to just leave their property sat on the market for 1,2,3 even 5 years in some cases, either that or they spit their dummies out and withdraw from the market after 6-9 months of hardly any viewings and ''insulting'' offers.

Despite me being labelled a ''crashist'' I've never once predicted nor do I expect any kind of epic crash of 30, 40 or 50%... nor have I ever said that renting is better than buying or vice versa.
My only view point is that property right now is appalling value for money and the insane prices are largely as a result of huge scale government and BoE intervention and not as a result of natural free market economics.

glasgowdan

Crashy_Time wrote: »

How do you know how much it has gone under offer for?

I know the market. Put a note in your diary to check it yourself in 6 months.

Grenage

Crashy_Time wrote: »

What, you can`t see any property crashes in the historical data?

No, I said that I don't see any evidence of that in the long term, not a 10-year window. Average house prices have, over the last 70+ years, increased steadily.

Picking a 10-year window and saying that prices slump around the 2007/9 mark for a few years is anecdotal.

ukcarper

iantojones40 wrote: »

It's an area where in 2000 I was able to buy a 3 bed semi and comfortably service and pay off the mortgage in 10 years... on a single, part-time, unskilled wage.

Now, despite all the official stats indicating that property prices in that area are still below 2007 highs everything on the market has an asking price around 10-20% higher than 2007 prices, with vendors unwilling to listen to reasonable offers and quite prepared to just leave their property sat on the market for 1,2,3 even 5 years in some cases, either that or they spit their dummies out and withdraw from the market after 6-9 months of hardly any viewings and ''insulting'' offers.

Despite me being labelled a ''crashist'' I've never once predicted nor do I expect any kind of epic crash of 30, 40 or 50%... nor have I ever said that renting is better than buying or vice versa.
My only view point is that property right now is appalling value for money and the insane prices are largely as a result of huge scale government and BoE intervention and not as a result of natural free market economics.

Yes prices are more expensive than 2001 and some areas and properties have bucked the trend and some have increased in value more. Another thing you don't seem to understand is some people just kite fly.

I would say that if houses can be bought by an unskilled part time worker they are undervalued .

I don't believe that there is a government conspiracy to to increase house prices and the increase is due mainly to a shortage of good properties.