There won't be a crash

davholla

michaels wrote: »

So today we had an agent's letter through the door - nothing unusual in that, we have got about 1 a week for the last 3 years desperate to list on our street - except today's said 'We have these 4 properties for sale locally, do you know anyone who might want to buy in your area?'

The market has turned methinks.

I don't know what will happen and I think a crash is possible - but I don't think this is evidence on its own.

simondm

michaels wrote: »

So today we had an agent's letter through the door - nothing unusual in that, we have got about 1 a week for the last 3 years desperate to list on our street - except today's said 'We have these 4 properties for sale locally, do you know anyone who might want to buy in your area?'

The market has turned methinks.

Or their intentions are the same and they are trying a different approach to tempt you into selling with them when you look at the asking prices of the properties in question. If you are looking for buyers in an area I would have thought the least likely target audience would be people already in the area, especially as they would be likely to see the "for sale" signs anyway as they go about their daily business.

chucknorris

GreatApe wrote: »

London is more highly dependent on migrants than the other regions if Brexit spooks them which it surely will/has then London rents and prices will be the first to be hit.

It has already happened with peak rents down about 10% and prices down about 5-10% too. Personally I am surprised that things have held up so well the +3% additional stamp duty hits London hard a £500,000 property costs £30,000 in stamp duty. Yet a year on things have not crashed just corrected a small amount from the very peak months of 2016

I thought that they might have dipped a bit too, for the same reasons that you did, so I'm quite pleased that we were able to sell two properties. We sold a 2 bed flat in Battersea (comparative low yield) and a 4 bed house in Hackney (where my mother in law used to live), they were about 30% of the value of our investment property. I think that it will be a while before we see how any immigration changes and the additional 3% will affect London property prices. I'd like to sell another low yielding 2 bed flat in the near future. But my 2 x 3 bed flats provide good income (I would have to make 7% on the equity released after paying CGT) to tread water financially, so I'm not too sure about selling those quickly, but I may do. We are happy enough to hang onto our remaining 3 houses for at least 10 years (2 in Hackney and one in Tottenham Hale).