[Brexit] Post offer renegotiate

AdrianC

movilogo wrote: »

UK house prices fall at fastest rate in six years on back of Brexit – Rics

Sales expectations for the next three months were the lowest since the survey began in 1999, with a balance of -28% – the difference between the number of respondents anticipating increases and the number expecting decreases.

https://www.theguardian.com/money/2019/jan/17/uk-house-prices-fall-at-fastest-rate-in-six-years-on-back-of-brexit-rics

It would be very easy to extract the wrong impression from your selected quote there.

So - for clarity...

28% is not the expected price fall. There are 28% more forecasters predicting falls than increases.
The predicted fall is up to 5% on Leave With No Deal, or a predicted rise of up to 2% with a deal.
The annual change for the year to November was 2.8% increase across the entire country.
The West Midlands increased by 4.6% over the year, London fell by 0.7% and was the only region with a decrease.

Rents in London are predicted to rise 4% over the next year, and 3% outside the capital. The number of London properties available to rent fell 22% over the last year.

AnotherJoe

AdrianC wrote: »

It would be very easy to extract the wrong impression from your selected quote there.

So - for clarity...

28% is not the expected price fall. There are 28% more forecasters predicting falls than increases.
The predicted fall is up to 5% on Leave With No Deal, or a predicted rise of up to 2% with a deal.
The annual change for the year to November was 2.8% increase across the entire country.
The West Midlands increased by 4.6% over the year, London fell by 0.7% and was the only region with a decrease.

Rents in London are predicted to rise 4% over the next year, and 3% outside the capital. The number of London properties available to rent fell 22% over the last year.

And "forget the whole thing what were we thinking?" is also on the table as well which would likely be a bigger rise than the 2% "leave with deal" option.

AdrianC

AnotherJoe wrote: »

And "forget the whole thing what were we thinking?" is also on the table as well which would likely be a bigger rise than the 2% "leave with deal" option.

<crosses fingers very hard>
I deliberately didn't mention that, since the article puts no figure to it.

MobileSaver

movilogo wrote: »

https://www.theguardian.com/money/2019/jan/17/uk-house-prices-fall-at-fastest-rate-in-six-years-on-back-of-brexit-rics

The 12-month outlook for prices remains broadly flat.

Estate agents have an average of 42 properties on their books per branch, close to record lows.

Average asking rents in London hit an all-time high of £2,034 ... rents will rise 4% in London this year and by 3% outside the capital

That left the annual growth rate at 2.8% in November, slightly up on the 2.7% recorded in October

And all of this after two and a half years of Brexit uncertainty.

It does make you wonder how bad things would have to get to cause house prices to drop significantly; so much so that it's highly likely that falling house prices would be the least of your worries in such a scenario.

AnotherJoe

AdrianC wrote: »

<crosses fingers very hard>
I deliberately didn't mention that, since the article puts no figure to it.

Crashy's going to have apoplexy if that does occur and prices rise 5-10% !

AdrianC

AnotherJoe wrote: »

Crashy's going to have apoplexy

Situation normal.

...if that does occur and prices rise 5-10% !

Again, situation normal. He's been forecasting the sky falling on everybody's head for long enough while the market's risen, so...

lisyloo

Just to add I do know people who procastinated on a pension and 20 year later hadn't done it.


I'm doing fairly well with a nice house owned outright and a decent pension pot.


No gifts, no high salary, merely putting money into house and pension for nearly 30 years and HAVING something significant to SHOW FOR IT after a few decades.


The difference is highly significant and there was nothing unusual in my circs, meremly took action to save/repay each month. Mortgage repayment go directly into bricks and mortar.

Crashy_Time

lookstraightahead

lisyloo wrote: »

Just to add I do know people who procastinated on a pension and 20 year later hadn't done it.


I'm doing fairly well with a nice house owned outright and a decent pension pot.


No gifts, no high salary, merely putting money into house and pension for nearly 30 years and HAVING something significant to SHOW FOR IT after a few decades.


The difference is highly significant and there was nothing unusual in my circs, meremly took action to save/repay each month. Mortgage repayment go directly into bricks and mortar.

To be fair the opposite can also happen. I bought young but when I went through an awful divorce the house was one of the most stressful issues. Life happens and lots is down to luck. Wish wish wish I'd never bought my 'forever' home as it wasn't. Very happy now by the way :beer:

AdrianC

Crashy_Time wrote: »

Transaction levels. Not prices.