So, this brexit thing....sell now?

lisyloo

Slow in my area too (near Bristol)

Crashy_Time

The time to sell and get bubble price without too much hassle was probably before the Brexit vote, many people were convinced that there would be a vote to Stay and a mini boom to follow.

scaredofdebt

Impossible to predict really, I'd probably hold, too late to sell before Brexit (if it happens) most likely anyway.

On one hand if the pound weakens, that might attract foreign investors as property would be cheaper for them, so prices could rise, at least in some areas.

Then again if Brexit reduces immigration, that could reduce pressure on housing and cause it to fall.

My gut feeling - and that's all it is - is we will see a gradual slowdown for a few months but no major drop in prices, not enough to make selling worthwhile anyway.

Toss a coin!

ukcarper

lisyloo wrote: »

Slow in my area too (near Bristol)

Two people I know have had property on market for almost 3 months one hasn't had one viewing, one of properties that one of people wanted has been taken off market.

lisyloo

ukcarper wrote: »

Two people I know have had property on market for almost 3 months one hasn't had one viewing, one of properties that one of people wanted has been taken off market.

We have a 2-bed retirement flat for sale. There is some demand as some people need the assisted living and the 2-beds are popular and less available. It’s early days for ius but I see the main problem as making a chain (we are no onward chain). We have a buyer that really wants it but she has to complete a chain.

triathlon

Herzlos wrote: »

Your house value isn't going to drop by anything like that much. Your equity is at about 50% so you'd need to see house prices halve before being under water.


You'll lose a lot of money selling and buying something cheaper, to then want to upsize again.


If you genuinely need something smaller, downsizing may save you a lot of money later, but that should be independent of brexit.

And if she is not careful she will end up in rented if she starts playing the timing game. And this is coming from someone who is making money from the renting game, I know enough now to know I would sooner be working 20 hours per day, buying the worst property for sale 100 miles from home rather than live in the sub culture that is renting.

ukcarper

lisyloo wrote: »

We have a 2-bed retirement flat for sale. There is some demand as some people need the assisted living and the 2-beds are popular and less available. It’s early days for ius but I see the main problem as making a chain (we are no onward chain). We have a buyer that really wants it but she has to complete a chain.

Someone I know is trying to sell a one bedroom over 60s flat it's in a nice block in a good town close to shops a bit larger than normal, It's been on market for almost a year with only one very low offer this is the South East. I think the fact that yours is two bedroom has helped because I believe it's not unusual for them to be difficult to sell.

Herzlos

triathlon wrote: »

And if she is not careful she will end up in rented if she starts playing the timing game. And this is coming from someone who is making money from the renting game, I know enough now to know I would sooner be working 20 hours per day, buying the worst property for sale 100 miles from home rather than live in the sub culture that is renting.

You'd probably get on a lot better if you did something about your toxic attitude towards renters. Renting for a while isn't the end of the world, though it'd be a bad financial decision if you had money for an owned property.

lookstraightahead

triathlon wrote: »

And if she is not careful she will end up in rented if she starts playing the timing game. And this is coming from someone who is making money from the renting game, I know enough now to know I would sooner be working 20 hours per day, buying the worst property for sale 100 miles from home rather than live in the sub culture that is renting.

Triathlon, Why do you have to derail every thread just to tell people how brilliant you are and to knock down other people's choices?

Op, try not to rely on equity In housing too much if it's not long term. The market is always fickle. But personally I would stay put as you need somewhere to live anyway.

triathlon

Herzlos wrote: »

You'd probably get on a lot better if you did something about your toxic attitude towards renters. Renting for a while isn't the end of the world, though it'd be a bad financial decision if you had money for an owned property.

I don't hate them, I am just not a big fan of them, and my opinion is worth more than most because I know them inside out through renting to them, the lies, the laziness, delusional self entitlement and so so much more.

Of course some are decent, I just have never met one who I would ever have a drink with, as long as they pay up on time, keep my house in good order, then we will have a good relationship.