Who else is selling and buying during Brexit

c_tyler

We are selling and buying (but not on a chain). We've put our house on the market officially on the 7th Jan and got an offer on it a week later. Now we have reserved ours (new build), but shouldn't complete until May/June.
The selling process should be fairly quick, as our buyer is an investor. Got the surveys to be done over the next week, and then I believe it will be just paperwork.

I'm hoping complete the sale within the next couple of months, so before Brexit.

dan958

In the process of buying a 2 bed apartment. Had a call last week to say that we should all be good to exchange soon.

Oren

My husband and I have just bought our first house. We've been renting for the past 3 years and didn't want to put our life on hold because of Brexit. We needed a place to live and thought our money was better off going towards our own home than into a landlord's pocket.

dharm999

House just gone on the market, already bought new house, so no chain. Hopefully it will sell quickly, its priced to sell. First viewing in the next few days, according to the agent, we'all see how that goes.

51mm5

I'm encouraged that so many people are just getting on with their lives and not waiting for the sky to fall in. Trying to time the property market is foolhardy.

Crashy_Time

Beats85 wrote: »

We are in the same boat, we are looking the first week of March. The problem is knowing what to believe in the news. We are looking for a family home and plan to stay for a long time so not worried about prices of property, but the key is getting the equity out of mine. Which I guess is the predicament everyone has.

Yep, that`s the tricky part.

Beats85

AnotherJoe wrote: »

Why do you say "as in March onwards" ? Hasn't Brexit been a factor for 3 or so years already? And will be one for another 10 probably? And most unlikely it (whatever "it" is), will happen in March either. This is going to be a very long running thread.

I think the main point of this thread, is that no one knows what is going to happen to the housing market in March. Yes Brexit has been lingering for a number of years however, no one knows the outcome. According to the press (which I try not to believe), house prices will drop immediately by double digit percent. Its just a thread to air thoughts if you are selling or buying in this period and to see what if anything happens.

Alter_ego

Remember the press hype around the millennium bug?

I think the brexit bug will be similar.

pinkteapot

CarrieVS wrote: »

I'm ready for this, but it is slightly disconcerting to think than in a month or two I'll suddenly go from a net worth of seventy-odd thousand (technically less twenty-thousand student loan but that doesn't really count) to being in debt by roughly the same amount (technically plus twenty-thousand...)

Your net worth includes your house value (less mortgage balance), so it won't drop. Well, only by the amount you spend on fees and other costs of buying/moving.

It's only your liquid assets that will drop, and your net worth will become affected by the ups/downs of your property's value, but you'll be fine.

Crashy_Time

51mm5 wrote: »

I'm encouraged that so many people are just getting on with their lives and not waiting for the sky to fall in. Trying to time the property market is foolhardy.

https://citywire.co.uk/funds-insider/news/monday-papers-london-property-transactions-drop-to-decade-low/a1195314?ref=citywire-money-latest-news-list