What does brexit mean for UK property?

Thrugelmir

Garethgrew wrote: »

Interest rates will have to go back up to stop the pound falling any more, this is bearish for property

Market speculation needs to be unwound first. Short-termism is what drives the investment banks.

CLAPTON

Garethgrew wrote: »

Interest rates will have to go back up to stop the pound falling any more, this is bearish for property

what new information will cause the pound to drop further?

chucknorris

Garethgrew wrote: »

Interest rates will have to go back up to stop the pound falling any more, this is bearish for property

OK, that is a possibility (which I chose not to act upon), but the question put to me was 'do I think that I should have sold' and I have explained why my response is, no I do not. Also I'm not convinced about interest rates going up very soon.

Crashy_Time

chucknorris wrote: »

OK, that is a possibility (which I chose not to act upon), but the question put to me was 'do I think that I should have sold' and I have explained why my response is, no I do not. Also I'm not convinced about interest rates going up very soon.

Well you didn`t see the landlord tax coming, or the Brexit? So I am going to assume that we will see some sort of emergency rate rise in the UK soon. I am going to put it down as a prediction, the HPC hive mind predicted that property would be milked for tax at some point (GO expected a Remain victory when he changed the BTL rules though, milk the people milkers sort of thing) and myself and others said it would be Brexit in posts on that site, so I am going for some kind of emergency rate hike coming up as we get our ratings downgraded even more. I think if the UK government had had a plan, and moved forward with this decisively we could have come out of it quite strongly, as it is they are f*ucking about like a Punch and Judy show on crack (the whole political establishment) and we are going to be punished for this by global markets/money. IMO.

wotsthat

I've made a couple of offers on houses in the last week. Talk of falling prices is, so far, premature - I may as well have made offers to a brick wall.

Crashy_Time

wotsthat wrote: »

I've made a couple of offers on houses in the last week. Talk of falling prices is, so far, premature - I may as well have made offers to a brick wall.

Got any links to what you are looking at?

cells

wotsthat wrote: »

I've made a couple of offers on houses in the last week. Talk of falling prices is, so far, premature - I may as well have made offers to a brick wall.

my guess is agents dont really have the power to convince their sellers to cut prices. only after a few months do they take on instructions at lower prices so volumes crash and prices downwards lag

I still expect london prices to be higher in December 2016 than they were in Jan 2016

Dan83

If the pound falls even further, wouldn't that encourage foreign investors to buy up property? Even better for them if there is a slump in property prices.

By foreign investors, I mean people who live in a foreign country, who will buy the house, rent it out then sell it in maybe 5-10 years.

lisyloo

Dan83 wrote: »

If the pound falls even further, wouldn't that encourage foreign investors to buy up property? Even better for them if there is a slump in property prices.

By foreign investors, I mean people who live in a foreign country, who will buy the house, rent it out then sell it in maybe 5-10 years.

Alternatively won't the Malaysians/Chinese be tempted to get out now?

Generali

lisyloo wrote: »

Alternatively won't the Malaysians/Chinese be tempted to get out now?

Yup. Britain isn't a safe haven for the time being. The point of buying property in London was as a store of value. The crashing pound has wiped 12% off the value of property for Chinese investors in 2 days.

Oh well, at least CLAPTON's kids will be able to afford a house. If they can hang on to their jobs of course.