30% fall in property if no deal brexit

phillw

AG47 wrote: »

Every single central bank in the world holds monetary precious metals as reserves.

Can you tell us why that is?

Because it's an easy to store commodity, but it's not money.

AG47 wrote: »

Is it because the last 6000 years monetary precious metals gold and silver are always money at all times?

It's because it was hard to do bank transfers before computers were invented. Gold hasn't been the basis for money in the UK since 1914.

AG47 wrote: »

Anyway back to this thread, yes it's looking like no deal brexit 30%+ property crash, and this is jut the start.

I don't think it's possible to predict a no deal brexit at this point, too many variables. We'll have to wait a while longer to test the "up to 30% property crash" theory.

adonis10

DaveandMayu wrote: »

At least 30% fall in property if no deal brexit
Channel 4 news just said it will be at least 30% crash in property prices if no deal.

The good news is the uk will save the 39billion divorce fees

Channel 4 said it so it is definitely true?

fatbeetle

We should all listen to the doom-mongers, the sky could actually be falling!!

Sat 21 May 2016 09.40 BST

House prices could take an 18% hit over the next two years and there will be an “economic shock” that will increase the cost of mortgages if the UK votes to leave the EU, George Osborne has warned.

“In the long term, the country and the people in the country are going to be poorer. That affects the value of people’s homes and the Treasury analysis shows that there would be a hit to the value of people’s homes by at least 10% and up to 18%.”

And Georgie Porgy was proved right... since 2016 house prices have gone up by 3% ...Oh hang about....

AG47

Or just ignore he doom mongers, keep looking at the world through rose tinted specs


“

Crashy_Time wrote: »

https://www.property118.com/number-empty-homes-actually-increasing/

”According to figures out today, between October 2017 and October 2018 the number of empty homes in England increased by almost 30,000 from almost 606,000 to over 634,000.

Of these, the number of homes classed as being empty for six months or more increased by over 10,000 from more than 205,000 in October 2017 to over 216,000 in October 2018.”

The answer is obvious for the landlords to keep lowering the asking rents until they find a tenant willing to pay it.

A lower rent coming in is better than no rent for months and months of vacant empty properties.

Landlords may have to cut expenses like the agency fees and just rent directly to the tenants for lower rents.

I wouldn’t want to be a landlord in these certain times.

Trying to get tenants in your property when there are so many empty properties keep undercutting each other.

Brexit is partyto blame, it’s going to be painful all round no matter what happens.

It’s probably better to just pull the plaster off quick and leave with no deal, yes short term pain a lot of pain, but it’s over quick and then move on.

They are pulling it off slowly dragging out the pain by extending brexit which just extends the pain and suffering over more time.

It’s all good news for us tenants, uncertainty and lower rents and property prices being dragged out.

fatbeetle

I posted about house prices, not rents, try again....

The-Joker

fatbeetle wrote: »

I posted about house prices, not rents, try again....

They are 80% correlated, where one goes so goes the other 80% of the time

snowqueen555

Just a 10% fall would make it affordable for me to get a small 2 bed flat. Unfortunately I am always 2 years away from affording something as my savings rate is being matched by price rises.

westernpromise

snowqueen555 wrote: »

Just a 10% fall would make it affordable for me to get a small 2 bed flat. Unfortunately I am always 2 years away from affording something as my savings rate is being matched by price rises.

What part of the country are you in?

triathlon

DaveandMayu wrote: »

At least 30% fall in property if no deal brexit
Channel 4 news just said it will be at least 30% crash in property prices if no deal.

The good news is the uk will save the 39billion divorce fees

And to go along with that we will probably get a 300% plus rise in poverty levels. Why don't you people stop thinking of yourselves just once and think about the good of the country

AG47

It’s looki like no deal

No deal means falling property and rents