To Exchange if we Brexit

BarleyGB

Why would the market fall if there is a Brexit?

Why would Spain or any other country wish to remove wealthy/financially independent ex pats?

Why would prices fall, the demand will still be there we're just simply not building enough houses and no ones saying immigration will just stop, its likely it'll still remain 100,000+ but be more controlled.

Nobbie1967

Miss_Samantha wrote: »

The good old ostrich syndrome combined with outright lies...

Sad.

(90% of economists agree on Brexit, by the way)

90% of economists agreed that leaving Gold standard would be disastrous

90% of economists agreed that leaving the ERM would be disastrous

90% of economists agreed that not joining the Euro would be disastrous

See any pattern here? Simply put, economists are as susceptible to 'group think' as any other group of experts. Saying that 90% of economist agree on something doesn't make it true, particularly when the event is unprecedented. There's a good reason it's called the dismal science.

Clutterfree

Tbh, nobody KNOWS what will happen, it is all speculation.

So back to the original question...
OP what have you decided to do?

Miss_Samantha

Nobbie1967 wrote: »

See any pattern here? Simply put, economists are as susceptible to 'group think' as any other group of experts. Saying that 90% of economist agree on something doesn't make it true, particularly when the event is unprecedented. There's a good reason it's called the dismal science.

If you want to ignore everything, good for you.

But then there is no informed debate to have in the same way that it isn't possible to have an informed debate with a cult.

This is unfortunately the reason the national has been of dismal quality. People do not want to think as it is too complicated and prevents simplistic views.

So, ignore everything, just believe in the cult leaders, all of your wildest dreams will come true. Or... perhaps the hangover will be brutal.

kaflinkle

90% of economists also didn't see 2008 coming either.

Economists don't have a clue what's going to happen, simple reason, it's not happened before.

I've seen models and forecasts until my eyes go buggy (I work in the research department of a rather large and well known investment bank). We can speculate but it's rather scenario based forecasts, ie what will happen if the pound drops below X amount, what happens if we can't secure a trade agreement with the EU, etc.

At the end of the day, buy the bloody house as you do not know what is round the corner. If you don't buy it, someone else will and you could possibly miss out. People seem to think that if we Brexit, house prices are going to plummet immediately. I thought I would be in my last house for around 4-5 years, ended up due to circumstances that I didn't see coming, 10 years.

CTASL

Welcome to MSE, where alot of !!!!!! opinions based on zero experience result in nothing but smug/sarcastic answers.

In response to your actual request, I wouldn't expect to be able to negotiate any sort of reduction. No one has any idea what the likelyhood of brexit is, nor how an exit outcome would genuinely impact house prices. As others have mentioned, albeit with the aforementioned charm of this board; would you expect to pay anymore if we remain after the 23rd June? Of course not.

If you're having doubts about the value of the property, re-consider the whole purchase, but brexit shouldn't be the reason.

marksoton

Miss_Samantha wrote: »

If you want to ignore everything, good for you.

But then there is no informed debate to have in the same way that it isn't possible to have an informed debate with a cult.

This is unfortunately the reason the national has been of dismal quality. People do not want to think as it is too complicated and prevents simplistic views.

So, ignore everything, just believe in the cult leaders, all of your wildest dreams will come true. Or... perhaps the hangover will be brutal.

Say again......?

Thrugelmir

BarleyGB wrote: »

Why would Spain or any other country wish to remove wealthy/financially independent ex pats?

Locals don't like living in ghost towns for 50% of the year. Think Devon/Cornwall. Local industry naturally dies.....

Davesnave

Thrugelmir wrote: »

Locals don't like living in ghost towns for 50% of the year. Think Devon/Cornwall. Local industry naturally dies.....

Yes, we'll be removing all those wealthy foreigners from Devon as soon as we get Brexit out of the way. They've really been holding up development in places like Exeter....

Southerner3000

OP - you need to look at the bigger picture.

A house price fall benefits all those moving UP the ladder & not down.

As you say you are looking at moving in another 5 years, possibly to a bigger (more expensive house I presume?)

Any house price movements on 23rd June will be caused my uncertainty by EU referendum immediately in the aftermath.

Ignoring any political view on whatever way prices go as a result of the referendum, if the value of your house goes down in the next 5 years, the house that you are looking at buying will ALSO go down.

In real terms you will be better off as you will lose 20% off the value of your current property but will also get a 20% discount on your onward purchase.

I wouldn't worry about a price fall if I were you. Unless you are buying with a miniscule deposit & overstretching yourself.

The number 1 rule with property is always to buy well, and somewhere that you will be happy to live in.

All the best.


PS. This is all of course very general and each property will be different!!