Why do you think the housing market has slowed - referendum?

DaftyDuck

If prices do fall as a result of an "out" vote, they'll mainly do so because of declining economic output and a drop in wages. Or the opposite. Or simultaneously both, but in differing economic zones, so London and the sarf will drop, but the regional economies of the north will burgeon. Or not. Or vice versa...

Then, of course, there's the rise in oil which, if it continues to rise, will dampen growth, causing house prices to fall. Or rise, as money moves from volatile assets to stable land and housing. Or the reverse. Then, if Donald Duck is elected in the USofA, the economy of the UK will be badly affected by a World recession (except Scottishland, which will benefit from a huge expanse of golf courses built by the wigg'd one). Or not. HillaryPOTUS will instantly lead to the US doubling growth overnight, and the efflux (influx) of assets from (or not) the UK (minus Scotland, that will have voted to join the EU). Will have the obvious, profound, and profoundly obvious effect. Probably.

Of course, the exact moment anyone is able to make any accurate prediction, some smart-bottomed spotty nineteen-year-old, masturbating billionaire investor will seize the knowledge, exploit the financial gap, and instantly close it with wise investment. Then he'll go bankrupt, and chaos will ensue. Or vice versa....

When/if Dobby Putin invades the Baltic States, assets will roar from these shores sure as peas are chips but, if he confuses the Baltic with the Balkans (which were so delineated in 1066 and all that), removing the (irritatingly tautological) Crimean Peninsula from his influence, instead annexing Albania, the decline in asphalt export may hit road building hard... the affect being house prices will be profoundly and obviously effected... but likely grammatically vice versa....

So much is clear to any economist worth his subscription; none would dare disagree with this profound obviosity.

There may be some who might say I don't know my assets from my elbow; I disagree; having sat down and bruised my funnybone, I can assure you that, following the above clear advice (and flipping a coin), the decision you need make is clear. And verse visa. Not Mastercard.

Hoploz

I don't really understand the Brexit issue either - people still need somewhere to live.

I've been told the Chinese have stopped investing at the top end, and that's having an effect and filtering down. The £ has dropped I'm also told, which will affect other foreign investment.

Guess this would mean a general downturn in our economy. But I can't see anything changing overnight whether we stay in or not. I certainly can't see how there would be this 18% reduction in house prices that's been bandied about.

needhouseadvice

I'm at the bottom end of the market. I can confirm that it's business as usual although an EA told me people aren't overbidding anymore. Decent properties still being snapped up quickly. I was hoping it would give me some leeway to negotiate but no!

nickyg2000

the 18% is over x amount of year deducted from the increases so say what would have been 30% increases over 5 years will be 12% if we leave etc

ElsieMonkey

DaftyDuck wrote: »

If prices do fall as a result of an "out" vote, they'll mainly do so because of declining economic output and a drop in wages. Or the opposite. Or simultaneously both, but in differing economic zones, so London and the sarf will drop, but the regional economies of the north will burgeon. Or not. Or vice versa...

Then, of course, there's the rise in oil which, if it continues to rise, will dampen growth, causing house prices to fall. Or rise, as money moves from volatile assets to stable land and housing. Or the reverse. Then, if Donald Duck is elected in the USofA, the economy of the UK will be badly affected by a World recession (except Scottishland, which will benefit from a huge expanse of golf courses built by the wigg'd one). Or not. HillaryPOTUS will instantly lead to the US doubling growth overnight, and the efflux (influx) of assets from (or not) the UK (minus Scotland, that will have voted to join the EU). Will have the obvious, profound, and profoundly obvious effect. Probably.

Of course, the exact moment anyone is able to make any accurate prediction, some smart-bottomed spotty nineteen-year-old, masturbating billionaire investor will seize the knowledge, exploit the financial gap, and instantly close it with wise investment. Then he'll go bankrupt, and chaos will ensue. Or vice versa....

When/if Dobby Putin invades the Baltic States, assets will roar from these shores sure as peas are chips but, if he confuses the Baltic with the Balkans (which were so delineated in 1066 and all that), removing the (irritatingly tautological) Crimean Peninsula from his influence, instead annexing Albania, the decline in asphalt export may hit road building hard... the affect being house prices will be profoundly and obviously effected... but likely grammatically vice versa....

So much is clear to any economist worth his subscription; none would dare disagree with this profound obviosity.

There may be some who might say I don't know my assets from my elbow; I disagree; having sat down and bruised my funnybone, I can assure you that, following the above clear advice (and flipping a coin), the decision you need make is clear. And verse visa. Not Mastercard.

:rotfl::T Brilliant!

ElsieMonkey

needhouseadvice wrote: »

I'm at the bottom end of the market. I can confirm that it's business as usual although an EA told me people aren't overbidding anymore. Decent properties still being snapped up quickly. I was hoping it would give me some leeway to negotiate but no!

Since the BTL's have dropped off the map a bit, when house hunting myself I've noticed a lot less competition in terms of other potential buyers looking at the same properties. As a result I think shoppers are taking their time a bit more, as they're not feeling as pressured to get in there quick and snap something, anything, up no matter the price. So I've noticed the sensibly priced properties still going pretty quickly, within a few weeks, but those still asking silly money are just sitting there, whereas this time last year I reckon they would have gone. Things are definitely slowing down. I think the sellers and EAs are slower to accept it than the buyers at the moment though! Sellers and EAs still pushing silly prices but the appetite for it just isn't there from the buyers anymore. In time the sellers will catch up and then fingers crossed you will be in a position to negotiate with more success maybe?

[Deleted User]

No slump around me houses going on the market and having offers within a few days.
Also my brother in law is an estate agent manager in Manchester and he says the same, it's crazy times for house sellers and buyers...

kinger101

Hoploz wrote: »

I don't really understand the Brexit issue either - people still need somewhere to live.

Haven't you been following the news. If we leave, we'll either;

(a) have a war with the rest of the galaxy; or
(b) be thrown back into prehistoric times and be trampled by dinosaurs.

Whereas if we stay, we'll be invaded by all the brain eating zombies they've given EU passports to.

Housing isn't a requirement in any of these scenarios.

Still, I'll be glad when the election is over and we can all relax.

marksoton

House price/supply/demand isn't an isolated thing.

It needs to be looked at in macro terms. Uncertainty in one area will create it in others. Ergo all other economic factors will affect how severely this one issue affects any given housing market.

Probably an idiot but from my rudimentary economics you could probably even apply price elasticity in this case.

Tygermoth

http://www.bbc.co.uk/news/business-36482294

Only two houses came on rightmove yesterday in a three counties search.

So, yep a major slow down on the go here.

Suddenly, rather than being spoken to like i am poop on an agents shoe when i call them, i am being called very regularly by estate agents who have static stock which they are SURE is perfect for me.

A dark dank studio flat above a chip shop on at £300K? of course! thats just what i was looking for!

:rotfl: