Where in London would prices be worst hit because of Brexit/Whatever?

theGrinch

non issue, red herring

prices will be higher in 10 years time than today as fundamental shortage thats been here since 1955

PDF

theGrinch wrote: »

non issue, red herring

prices will be higher in 10 years time than today as fundamental shortage thats been here since 1955

This.

There are still the same shortages at the moment in housing. Simple supply and demand.

Crashy_Time

PDF wrote: »

This.

There are still the same shortages at the moment in housing. Simple supply and demand.

Why did the PTB need to prop up the housing market then...:rotfl:

michaels

Don't foreign buyers drive the very top end...for whom prices in their currency terms have just fallen 10%

Generali

michaels wrote: »

Don't foreign buyers drive the very top end...for whom prices in their currency terms have just fallen 10%

You have to wonder why foreign buyers buy into prime central London property. IMHO it's because prices never seem to fall so it's a great store of wealth.

Those buyers have just lost about 12% almost overnight so they must be wondering whether PCL is still such a great store of wealth. Maybe they're starting to look elsewhere. I would at least be considering my options in their boots.

zagubov

Months ago I walked along the Thames into central London (OK I tagged onto a pub-crawl with some mates) and passed high-rise towers that looked more than half-empty. Very eerie. But its not just there.

Near where I live in SW London, just outside the boundary with Surrey, there's a new development of housing which reputedly has been sold in large part to investors from eastern Asia.

peter_we

Crashy_Time wrote: »

Being serious, anywhere where people who rely on banks or EU money for jobs buy property is going to take a hit?

You might think that finance would take the main hit. However, Services (depending on passporting to the Single Market) cover far more than that and all sorts of wage groups are included.

So the London market will be affected equally, top to bottom

Generali

peter_we wrote: »

You might think that finance would take the main hit. However, Services (depending on passporting to the Single Market) cover far more that and all sorts of wage groups are included.

So the London market will be affected equally, top to bottom

Passporting depends on membership of the EEA I believe so that shouldn't be impacted by Brexit unless the British Government is run by a bunch of absolute moro....ah, oh dear.

IMHO, the biggest impact to London property is likely to be that the asset class is no longer seen as a safe haven.

peter_we

They aren't morons, they are ignorant.. However, we voted to leave the EU, if they attempt to use that result to do anything besides that, they will not have a Mandate and Parliament/Lords can block it.

So hopefully we will stay in the the EEA. But don't hold your breath.

cells

Generali wrote: »

You have to wonder why foreign buyers buy into prime central London property.

Trophy Wives
Trophy Cars
Trophy Yachts
Trophy Art
Trophy Properties

Which self respecting billionaire is going to buy a top of the range £500,000 mansion in stoke-on-trent? But 1 hyde park at £140,000,000 thats something to talk about


Also there is the English Language. A rich Arab who speaks English is less likely to buy a property in Paris or Frankfurt or Warsaw than in London. In or out of the EU boom or bust as long as its a safe city they will buy