Buy now or wait till BREXIT

PhilE

There aren't any trade deals in place though, and we've just lost a big trade deal for little benefit.

India hate us, Africa has little to offer. These countries need to spill off the excess of their population, so a trade deal with them would mean more immigrants. Which is what Brexiters don't want. Personally, Id rather have a German car/washing machine over an African or Indian one.
And we've never had the concern of the Dutch, Belgians, Germans etc coming here en masse, as their countries are at least equal to ours in terms of prosperity.

China barely notices us and the US aren't to be trusted.

Whereas joining the EU was a sound investment with a fair prediction, leaving it isn't. Other countries will be less interested in a partner who bails from a deal they themselves might have liked.

We don't have the trade to compete with the EU. Other countries would be more interested in joining the EU than joining us, now a vacancy is coming up.

Sorry, but the post EU lucrative trade deals, belong in the same category as the NHS savings fantasy.

Sanne

We bought in October - since a couple of similar properties have come onto the market, higher priced. They’re not selling but vendors aren’t willing to drop their prices either; if they’re not desperate I guess they’ll just stay put in the end so a drop in demand doesn’t necessarily mean you get what you want cheaper.

We couldn’t wait forever (hubby is 46 so mortgage term is coming into play), already had to delay buying once, and we’re not intending to move in the next 10+ years so what will be will be over the next couple of years.

51mm5

Crashy_Time wrote: »

https://www.bbc.co.uk/news/business-46748966


"Separate figures from the Bank of England showed that mortgage approvals for house purchases fell in November, and are now at half the level of 15 years ago"


Do you accept that credit conditions have changed?

Thanks for backing up my point with your link. Here are some choice quotes from your link:

"The lender says uncertainty over the economic outlook appears to be undermining confidence in the market."

"It seems to be the uncertain economic outlook that is really weighing on buyer sentiment. I think once that lifts then things should start to pick up to normal levels of about 2%."

"While the supply of homes for sale also has dwindled, the balance of demand and supply has shifted in buyers' favour. That said, we continue to doubt that a sustained period of falling house prices is likely."

"Meanwhile thousands of would-be sellers are instead hunkering down and waiting until things improve before putting their home on the market."

As I expected you never answered my question.:rotfl:

Gwendo40

51mm5 wrote: »

Thanks for backing up my point with your link. Here are some choice quotes from your link:

"The lender says uncertainty over the economic outlook appears to be undermining confidence in the market."

"It seems to be the uncertain economic outlook that is really weighing on buyer sentiment. I think once that lifts then things should start to pick up to normal levels of about 2%."

"While the supply of homes for sale also has dwindled, the balance of demand and supply has shifted in buyers' favour. That said, we continue to doubt that a sustained period of falling house prices is likely."

"Meanwhile thousands of would-be sellers are instead hunkering down and waiting until things improve before putting their home on the market."

As I expected you never answered my question.:rotfl:

Given that just about every policy the BoE has embarked upon in the last 10 years has been aimed at propping up the housing market, with virtually no regard to the wider economy or the value of sterling etc... it's hardly surprising that they're going to come out with quotes such as that is it?

51mm5

Gwendo40 wrote: »

Given that just about every policy the BoE has embarked upon in the last 10 years has been aimed at propping up the housing market, with virtually no regard to the wider economy or the value of sterling etc... it's hardly surprising that they're going to come out with quotes such as that is it?

Thats what Crashy and his hpc fail to recognise is that the BoE and government are willing do so much 'to keep the plates spinning'. Rightly or wrongly it is what it is.

WibblyGirly

I'm a FTB buying now, fed up on renting and want to have a home to be properly settled.
With Brexit, I'm more worried that my landlord could decide to sell his house and then we have to find somewhere else to rent, which isn't easy with a cat and moving rentals always includes dead money in fees every time.
I'm not so bothered about house prices if they come down a bit as we plan to have this house for the next 5-10 years at least.

PhilE

WibblyGirly wrote: »

I'm a FTB buying now, fed up on renting and want to have a home to be properly settled.
With Brexit, I'm more worried that my landlord could decide to sell his house and then we have to find somewhere else to rent, which isn't easy with a cat and moving rentals always includes dead money in fees every time.
I'm not so bothered about house prices if they come down a bit as we plan to have this house for the next 5-10 years at least.

Brexit could actually benefit landlords, as rent will go up. That's of no benefit to you though, obviously.

Which is why I can't understand why renters voted for Brexit....

Alan2020

flatulantyounggoat wrote: »

Simple question really, I'm holding off house hunting until BREXIT has occurred. I think there will be a massive house price crash?

Or, maybe there won't be. First time buyer either way. Any thoughts? Should I just get a move on with it.

No one knows!!

Apparently if you believe the rumour mill we won’t be able to rent as landlords will be illegal. There won’t be any mortgages as it won’t be needed. Each person will get a mansion with 25 bedroom and en-suites and lifetime maintenance for free. Also none of us will need to work as the government will pay us. Imagine we will also be given a Rolls Royce in our house Garage to get us strayed.

lisyloo

PhilE wrote: »

Brexit could actually benefit landlords, as rent will go up. That's of no benefit to you though, obviously.

Which is why I can't understand why renters voted for Brexit....

Why will rent go up?
I rent in central London and I’d say the major factor here is supply and demand.
We’re about to renew for 12/15 months so not personally concerned but I can’t see why rents would go up, in fact the opposite could be true.

BTW - we own our country pile outright (yay) just in case anyone was worried.

Crashy_Time

51mm5 wrote: »

Thats what Crashy and his hpc fail to recognise is that the BoE and government are willing do so much 'to keep the plates spinning'. Rightly or wrongly it is what it is.

Why are they making BTL unattractive to new borrowers then, surely that is one of the important plates?