Cash buyer near completion... brexit housing crash fears..?

lisyloo

ukcarper wrote: »

Renting does have it place especially if you have to move frequently but if you are reasonably settled over the longterm is by far better and not just financially.

I'd go as far to say a mathematical certainty (barring the unexpected like divorce).

dave_wilson

im in similar position being cah buyer I know the area I want to live and , people will always need somewhere tyo live, supply & demand in good areseven if pricess dip people will always need houses to live in,supply and demand ethics

stehouk

I'm trying to be clever (that's a first) and time the market, i think there is a lot of instability around at the moment with brexit looming, interest rates on the rise and stock market's taking a hit, the op seems to have the same worries.

ukcarper

stehouk wrote: »

I'm trying to be clever (that's a first) and time the market, i think there is a lot of instability around at the moment with brexit looming, interest rates on the rise and stock market's taking a hit, the op seems to have the same worries.

I think trying to time market is very risky but I can see that waiting to see what happens with brexit is not a bad idea.

lisyloo

I am currently in a chain of 3 properties selling a retirement flat.
I know our buyer is motivated as the 2-bed type don't come up very often, but I don't know about the other 2 parties, one moving up the ladder and presumably the other a first time buyer.
We are reasonbly well progressed but obviously I hope no-one gets cold feet (will be sure to let you know if they do).

MaxiRobriguez

stehouk wrote: »

I'm trying to be clever (that's a first) and time the market, i think there is a lot of instability around at the moment with brexit looming, interest rates on the rise and stock market's taking a hit, the op seems to have the same worries.

Anyone buying a property worth £400k seems to be thinking the same given when I look on rightmove now every house over £400k is "reduced today" around my parts and every house under £400k is "added today"

I reckon now would be a pretty good time to buy a more expensive property. You've got clear discounting going on due to market concerns around Brexit and you've got low interest rates which you could lock in for a number of years.

There's every chance May's deal get's voted down and a second referendum returns a remain vote, at which point any talk of house price crashes is off the table and there'll be a rush to buy before prices return back to what they were.

lisyloo

I wonder what diggerroony decided.
We are 11.5 weeks into our chain with the 3 buyers having invested in the usual mortgages, searches, solicitors. I have no worries about our buyer who is very motivated and downsizing, but no idea about the other 2.