Should first time buyers wait until after Brexit, or rush and buy before 29th March?

SouthLondonUser

So you are saying that past historical trends will continue in the future no matter what? If that's what you are saying, that's a potential recipe for disaster!

theartfullodger

Ah, the old "driving a car looking out the back window" approach of things always happen as they did before.


And no, prices have not always doubled every 10 years.. Myth peddler by the usual suspects...



Artful: Been buying & selling properties for 40+ years...

robatwork

theartfullodger wrote: »

And no, prices have not always doubled every 10 years.. Myth peddler by the usual suspects...

Indeed not.



1990-2000 Wack Wack oops
2005-2015 Wack Wack oops

Just depends which 10 years you take.

What the graph does show is that over several decades, property tends to rise, just like stock market investments.

Crashy_Time

robatwork wrote: »

Indeed not.



1990-2000 Wack Wack oops
2005-2015 Wack Wack oops

Just depends which 10 years you take.

What the graph does show is that over several decades, property tends to rise, just like stock market investments.

Of course simple "Supply and Demand" caused those massive rises, simple dynamics and fundamentals of the market that will always be there, not a massive credit bubble followed by the biggest central bank bailout in history (that is now being unwound)? Anyone spending (borrowing) a lot on a house just now is pretty brave IMO :rotfl:

maisie_cat

Crashy_Time wrote: »

Anyone spending (borrowing) a lot on a house just now is pretty brave IMO :rotfl:

Or somebody who needs a roof over their head and knows that it is still cheaper over a lifetime than renting.

Crashy_Time

maisie_cat wrote: »

Or somebody who needs a roof over their head and knows that it is still cheaper over a lifetime than renting.

That implies future knowledge of interest rates and rent/wage levels, plus a whole host of other factors, and isn`t really a credible statement to make IMO. Buying at the peak of a bubble market with rates rising, transactions falling and the biggest political turmoil for decades going on is a gamble to say the least.

buggy_boy

Crashy_Time wrote: »

That implies future knowledge of interest rates and rent/wage levels, plus a whole host of other factors, and isn`t really a credible statement to make IMO. Buying at the peak of a bubble market with rates rising, transactions falling and the biggest political turmoil for decades going on is a gamble to say the least.

That implies we are at the peak of a bubble and rates will continue to rise.. Both things you can not be sure of.. As for falling transaction rates as somebody in the property market you will find there is not as much for sale and not as many buyers...

People are however extending rather than moving... Try getting hold of a decent builder/roofer/electrician/plumber right now, they are all swamped with work doing extensions.. This is the reason for low transaction levels, the cost of moving is too high with SDLT and solicitor fees etc, people are still piling money into property, just their own property rather than moving.

51mm5

Crashy_Time wrote: »

That implies future knowledge of interest rates and rent/wage levels, plus a whole host of other factors, and isn`t really a credible statement to make IMO. Buying at the peak of a bubble market with rates rising, transactions falling and the biggest political turmoil for decades going on is a gamble to say the least.

You've been saying that for over 10+ years. Only thing that may cause a wobble is a no deal Brexit which I think the TPTB will do everything to avoid or kick down down the road. Anyone that thinks house prices will crash at 00:00 on 29th March 2019 is smoking the pure crack.

51mm5

buggy_boy wrote: »

That implies we are at the peak of a bubble and rates will continue to rise.. Both things you can not be sure of.. As for falling transaction rates as somebody in the property market you will find there is not as much for sale and not as many buyers...

People are however extending rather than moving... Try getting hold of a decent builder/roofer/electrician/plumber right now, they are all swamped with work doing extensions.. This is the reason for low transaction levels, the cost of moving is too high with SDLT and solicitor fees etc, people are still piling money into property, just their own property rather than moving.

Indeed I've had a loft conversion last year

Davesnave

51mm5 wrote: »

Anyone that thinks house prices will crash at 00:00 on 29th March 2019 is smoking the pure crack.

Given the traffic here, thinking that everyone on MSE has a straightforward personal agenda is probably somewhat naive.

Some people have been around posting negatively for so many years, they'd need a personality disorder of some magnitude. However, there could well be an external incentive. With enough AIs and web sites to visit, it could even be a full time job.