Property is now in a bear market

Sapphire

To add to the above, I've just been speaking to a (female) friend whose best friend is German (gay man) and lives there. Apparently, he was phoning her and emailing her practically every day before the vote to plead with her to vote leave. He was providing her with evidence of how the EU is a cesspit of corruption, and saying that many Germans want out of the EU. And he is someone who does not live in poverty, since his mother owns several blocks of properties (I believe they were originally bought by his father) in Germany that are rented out.

I strongly believe that we are better off out, and that belonging to the EU served mainly affluent Londoners and 'high' financiers worldwide (who have their own interests at heart, not those of working people, or of nations), while impoverishing working people in general. There may be hiccups along the way, and property prices will (and should) fall, especially in London, but in the long run we – and other nations – will be best off out of the EU, free to set our own laws and have our own systems suited to our citizens' needs.

I also think we should begin approaching Commonwealth countries and trading with them freely, without the restrictions of the EU, which are not of benefit to us.

economic

Sapphire wrote: »

To add to the above, I've just been speaking to a (female) friend whose best friend is German (gay man) and lives there. Apparently, he was phoning her and emailing her practically every day before the vote to plead with her to vote leave. He was providing her with evidence of how the EU is a cesspit of corruption, and saying that many Germans want out of the EU. And he is someone who does not live in poverty, since his mother owns several blocks of properties (I believe they were originally bought by his father) in Germany that are rented out.

I strongly believe that we are better off out, and that belonging to the EU served mainly affluent Londoners and 'high' financiers worldwide (who have their own interests at heart, not those of working people, or of nations), while impoverishing working people in general. There may be hiccups along the way, and property prices will (and should) fall, especially in London, but in the long run we – and other nations – will be best off out of the EU, free to set our own laws and have our own systems suited to our citizens' needs.

I also think we should begin approaching Commonwealth countries and trading with them freely, without the restrictions of the EU, which are not of benefit to us.

Hopefully now the EU will collapse sooner as it should.

Garethgrew

economic wrote: »

Hopefully now the EU will collapse sooner as it should.

It's certainly looking that way, and the U.K. is smart to get out ASAP, I don't know why some are saying it's going to take years to leave. We didn't adopt the Euro currency thank God for that,it should be straight forward to be independant and free.

AG47

now uk down from aaa to just aa.

Bear market for dure

Garethgrew

There has been a huge amount of new properties put on the market, they all want to sell before prices are much lower

TrickyTree83

Garethgrew wrote: »

There has been a huge amount of new properties put on the market, they all want to sell before prices are much lower

Did you ask all the vendors if that's why they're selling, or is that just an assumption?

BarleyGB

As we pull out of the brexit hyseteria there is only one way for property prices and that's up up up, I think there's still 50% to go.

economic

BarleyGB wrote: »

As we pull out of the brexit hyseteria there is only one way for property prices and that's up up up, I think there's still 50% to go.

why do you think this?

looknohands

I don't think it really matters, I've heard an 18% fall rumored, in one sense this would wipe out a lot of the equity in my current property, though I'm not concerned. Nobody has to sell up do they! I'd imagine people hold on to their homes, rent them out and look to buy another property at the bottom of the crash, then you have a rental income and two properties, one recovering in value and one building in value.

MARTYM8`

looknohands wrote: »

I don't think it really matters, I've heard an 18% fall rumored, in one sense this would wipe out a lot of the equity in my current property, though I'm not concerned. Nobody has to sell up do they! I'd imagine people hold on to their homes, rent them out and look to buy another property at the bottom of the crash, then you have a rental income and two properties, one recovering in value and one building in value.

Prices have nearly doubled in about 5 years in London.

An 18 per cent drop would probably take us back to 2013 or 2014 levels. Only those who bought as first time buyers in the last couple of years would notice any impact - given how fast this bubble has developed.

When you need to earn £100,000 plus to buy a house in Dagenham something really is out of kilter.

And for people upsizing price falls actually mean its easier for them to move up as the differentials close.