House Price Crash Discussion Thread

jamtart6

m00m00 wrote: »

depends on a lot of variables

it's not the best time to buy for sure, but unless we know more about your actual situation people can't really give advice.

not that you should take too seriously advice given on the internet about the most important financial purchase of your life.

obviously but its nice to get some opinions!!!! 1st time buyer, want to buy a house..but dont know whether to wait in case they come down a bit (i dont think they'll crash but none of us can be sure!)

m00m00

personally, I wouldn't buy in the next 6 months at least, but that's just my own opinion

one thing that's clear from my property bee data analysis, there's not many price increases around ,but plenty of reductions.

jamtart6

thanks m00m00 thats what we were thinking. unless we find a bargain, we'll probably hold off and continue saving!

m00m00

I'll be updating my weekly thread every weekend, with the latest from my property bee data analysis, and I'm adding new locations to it weekly, 2 new this week, including my first in Surrey (by request)

hopefully this will continue to be of interest to people on here, so they can see what's really happening in terms of actual price reductions, % reductions, % of property being reduced etc. the more data I build up over time, the more useful the analysis I can do on it will be.

m00m00

Vincenzo wrote: »

Apologies to OP - misread the original post.

Although my point still stands - people will not sell their long-term investments simply because of a tax change. Sure if they had planned to sell, they will wait until after April but most BTL investors are in for the long term.

somehow I very much doubt any BTL'er who's bought a 'luxury' apartment in a city centre location will have much choice about whether they are in it for the long run, when negative gearing and the need to remortgage hits them.

adr0ck

BigJonnyB wrote: »

eh? The poster is saying that AFTER the new rules come in there will be a rush of BTL sales - not before. .

doubt it there hasn't been a big rush of BTL properties for sale

m00m00

adr0ck wrote: »

doubt it there hasn't been a big rush of BTL properties for sale

depends on your definition of big rush

there's about 50 BTL properties listed today in nottingham alone (city centre flats)


and I've seen a lot of the 'traditional' money makers, the student HMO's up for sale in the past month or so.

Vincenzo

m00m00 wrote: »

somehow I very much doubt any BTL'er who's bought a 'luxury' apartment in a city centre location will have much choice about whether they are in it for the long run, when negative gearing and the need to remortgage hits them.

A bit of a generalisation! I know a few people who have bought such properties and while some of them realise they overpaid they are sufficiently financially secure not to be forced to sell. I don't doubt there will be casualties in the new build BTL market. But this was happenening anyway, irrespective of what is happening in the rest of the market.

m00m00

it's only as much of a generalisation as your claim that most BTL'ers are in it for the long run.

the facts of BTL are that most people in it, have got into it recently (in the past 2-3 years), and know of nothing other than rampant HPI.

how they will deal with slowing or even negative capital appreciation is anyone's guess.

adr0ck

m00m00 wrote: »

depends on your definition of big rush

there's about 50 BTL properties listed today in nottingham alone (city centre flats)


and I've seen a lot of the 'traditional' money makers, the student HMO's up for sale in the past month or so.

sorry quick look on rightmove shows 73 flats listed within the last 7 days within 1 mile of Nottingham and over 20 of them are new build

wouldn't call that a big rush

anyway if you were looking to sell your property as soon as the new rules come in in 3 weeks time you would have put your property up for sale just after Christmas or just before

it doesn't take 3 weeks to sell a property (especially in todays market)