Brexit vs Crossrail

patch9495

Hello Everyone,


Me and my partner find ourselves at a trade off with this issue.


With Brexit looming and inevitably causing a crash in house prices, and Crossrail December coming 2019, should we hold off buying incase of a price crash, or buy as early as possible to get on the price rise caused by Crossrail.
We are looking to buy within 1 mile of a Crossrail station so would hope the benfits this brings will be see through our properties value.
We are looking to purchase, summer/autumn 2019.


Thanks in advance

Thrugelmir

Perhaps you are already too late. Crossrail has been known about for a very long time. Location , location, location as they say.

Okrib

The Crossrail bump happened many years ago. Many many years ago. Look at the value change in places like Ealing, the investment that has happened there.

Be fearful when others are greedy, and greedy when others are fearful - which in this context means house prices will be fine whatever happens with Brexit, and you're not going to see a huge uplift in value buying this close to Crossrail's completion.

ReadingTim

I think the majority of any price rises attributable to Crossrail have already happened - they might go up a little further once the line is actually open, but the real money is made by buying before the project gets the go-ahead and work starts - when it's years, not months, away; or there's the risk that it might not actually happen.

patch9495

Thanks all for the responses.


Unfortunately we were not in a life position to be able to invest when Crossrail was announced, and this will be our first home.


Should I be correct in thinking it would be more beneficial to watch the market effects of Brexit than the potential impact (or little impact as evidenced above) of Crossrail?


Many Thanks

phill99

'Inevitably'?

patch9495

Im only going off Bank of England estimated figures for Brexit. 5% GDP shrinkage if deal goes through and 8% if no deal. Either way this indicates a recession which using common logic should equate to a fall in house prices (at least short term).

epinjy

Buy a house to live in and forget about it, why waste your life worrying about something you can't control anyway? If you want an investment open a stocks and shares isa.

jimbog

patch9495 wrote: »

With Brexit looming and inevitably causing a crash in house prices

If prices are 'inevitably' going to crash it would be folly to buy anything surely?

societys_child

"inevitably"

Carney is very anti Brexit and most of his predictions have been wrong so far. Who knows whether prices will rise, fall, or stay the same? He certainly does'nt.

Thrugelmir

patch9495 wrote: »

Im only going off Bank of England estimated figures for Brexit. 5% GDP shrinkage if deal goes through and 8% if no deal. Either way this indicates a recession which using common logic should equate to a fall in house prices (at least short term).

Global trade is falling. US interest rates are on an inverted curve. Levels of UK consumer debt. There's much to speculate about. GDP is far from being the be all and end all. In this highly interconnected financial world that we live in.