House price crash...

Conrad

mayonnaise wrote: »

Probably not.

Take it up with LBC, they had a Champagne producer on at about 9.45 for 10 minutes explaining why they are buying land in Kent for production of British 'Champagne'.

mayonnaise

Conrad wrote: »

Take it up with LBC, they had a Champagne producer on at about 9.45 for 10 minutes explaining why they are buying land in Kent for production of British 'Champagne'.

Sparkling wine, not Champagne.

mystic_trev

No point in worrying about crashes, they happen from time to time.

A look at my Portfolio, means a 40% 'crash' and they'd only be worth (on average) three times what I paid for them, and during that time they've been a nice source of income.

As for HPC, what can I say? They're demented!

padington

Meanwhile Wood Green council officially signs off a 2 billion pound development ...

http://m.building.co.uk/5088565.article?mobilesite=enabled

Someone thinks now is the time to pour 2 billion into Haringey property.

caronoel

westernpromise wrote: »

The odd thing is that in a crash buying gets harder, not easier.

Mortgage lenders want higher deposits and lower salary multiples, and sellers looking to trade down won't do so until prices recover, so activity collapses.

Very true.

I bought my last investment property in South West London in 2009, and really struggled to get a BTL mortgage on it.

My chums at hpc produced a range of graphs to prove what a foolish move that was. Anyone remember the 50% off by Christmas 2009 from brit1234?

8 years later, the property has doubled in value and rent is up almost 40%.

I don't think a crash is likely, but it will only present a buying opportunity for many on here while the HPC muppets sit on their hands watching as the boat sails off over the horizon yet again

Pobby

A house price crash, at last. Who`d a thought it. Certainly will be a boon for some of my younger family members here in Reading. Not been on much but currently living between Plymouth and Reading and with a view to leasing my house in Plymouth to the council. Having bought into the Reading home some 3 or 4 years ago it has increased in price by some 60%.

This is madness and not sustainable. Mr. Carney has the job of keeping interest rates low but with inflation close to 3% how will he achieve that?

Cannot get my head around a 40% crash but will be following this thread with interest.

westernpromise

Pobby wrote: »

A house price crash, at last. Who`d a thought it. Certainly will be a boon for some of my younger family members here in Reading. Not been on much but currently living between Plymouth and Reading and with a view to leasing my house in Plymouth to the council. Having bought into the Reading home some 3 or 4 years ago it has increased in price by some 60%.

This is madness and not sustainable. Mr. Carney has the job of keeping interest rates low but with inflation close to 3% how will he achieve that?

Cannot get my head around a 40% crash but will be following this thread with interest.

So in a falling market your younger family members will have no problems raising the higher deposit required, no problems paying the likely higher mortgage rates, and no problems finding the higher stamp duty that will be necessary across the board if the value and number of transactions falls?

At current mortgage rates you pay off 15% of the loan in the first five years. How much would they pay off if those rates doubled?

GLWT, as they no doubt say to each other. If you want to know who'll own property after a crash, look at who owned it before.

AG47

The house price is going to take as long as the bubble took to get so inflated, I'd decades

Crashy_Time

westernpromise wrote: »

So in a falling market your younger family members will have no problems raising the higher deposit required, no problems paying the likely higher mortgage rates, and no problems finding the higher stamp duty that will be necessary across the board if the value and number of transactions falls?

At current mortgage rates you pay off 15% of the loan in the first five years. How much would they pay off if those rates doubled?

GLWT, as they no doubt say to each other. If you want to know who'll own property after a crash, look at who owned it before.[/QUOTE]


The banks?

Crashy_Time

caronoel wrote: »

Very true.

I bought my last investment property in South West London in 2009, and really struggled to get a BTL mortgage on it.

My chums at hpc produced a range of graphs to prove what a foolish move that was. Anyone remember the 50% off by Christmas 2009 from brit1234?

8 years later, the property has doubled in value and rent is up almost 40%.

I don't think a crash is likely, but it will only present a buying opportunity for many on here while the HPC muppets sit on their hands watching as the boat sails off over the horizon yet again

http://www.independent.co.uk/news/business/news/foxtons-estate-agents-profits-drop-54-per-cent-over-half-brexit-latest-a7617341.html




Mmmmmm..........:rotfl: Probably not.