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If Brexit were to happen how quickly do you think house prices would be affected?

ruelle
ruelle Posts: 161 Forumite
Ninth Anniversary 100 Posts Name Dropper Combo Breaker
in House buying, renting & selling
Obviously it's unprecedented so no one knows what would happen but it's not like we'd wake up on the 24th and house prices would be slashed by 20 per cent would it?
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Comments

  • rajarr
    rajarr Posts: 33 Forumite
    I doubt it would be that sudden but as a FTB I wouldn't complain if it was...
  • ruelle
    ruelle Posts: 161 Forumite
    Ninth Anniversary 100 Posts Name Dropper Combo Breaker
    rajarr wrote: »
    I doubt it would be that sudden but as a FTB I wouldn't complain if it was...

    ha, me too! just wondering if they dropped how long a ftb would wait to swoop it to get the best bargain. if banks were still dishing out mortgages that is.
  • StuartR50
    StuartR50 Posts: 10 Forumite
    House prices will only drop if mortgages dry up and the supply of buyers becomes much less.
  • HouseBuyer77
    HouseBuyer77 Posts: 961 Forumite
    Fifth Anniversary Combo Breaker
    I doubt it would be that sudden but as a FTB I wouldn't complain if it was...

    You may do when the banks response to such a sudden drop is to freeze all mortgage lending to anyone with a less than 40% deposit (or indeed freeze it entirely).
  • magicpork
    magicpork Posts: 53 Forumite
    If Brexit indeed causes many business to leave the UK then the demand will fall and house prices may drop significantly, especially in London.
  • ruelle
    ruelle Posts: 161 Forumite
    Ninth Anniversary 100 Posts Name Dropper Combo Breaker
    magicpork wrote: »
    If Brexit indeed causes many business to leave the UK then the demand will fall and house prices may drop significantly, especially in London.

    sounds like that would take a good few years though
  • magicpork
    magicpork Posts: 53 Forumite
    ruelle wrote: »
    sounds like that would take a good few years though

    Agreed...although for a market like London, where prices are fueled by foreign investment and already at a absurdly high level, the impact can be swifter and bigger.

    For other areas, it's going to take some years I think.
  • booksurr
    booksurr Posts: 3,700 Forumite
    ruelle wrote: »
    how quickly do you think house prices would be affected
    2 minutes 31 seconds, then they will collapse
  • Maxwell007
    Maxwell007 Posts: 312 Forumite
    A Brexit could be the best thing to happen to the uk housing market . . . BUT DONT WORRY ITS NEVER GONNA HAPPEN, people are too scared of change
  • lincroft1710
    lincroft1710 Posts: 19,142 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Providing the Sun is in conjunction with Mars and Uranus is out of sight, this can be calculated at 10 Euros per hour during daylight, if Midsummer's day is past.

    There are no available calculations for GBP/£ sterling.

    Plagues of locusts will of course dramatically affect these figures.
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
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