Who else is selling and buying during Brexit

Crashy_Time

lisyloo wrote: »

A number of people are cautious due to brexit and affordability is hitting the buffer. The market is proving remarkably resilient in the face of brexit which just shows how much people want to buy property and get on with their lives despite the uncertainty.


The increased supply of property does not seem to be translating in price falls at the moment as far as I can tell, but if you have evidence then please present it.


The evidence is that people who try to time the market generally do a lot worse that those who just get on with it and falling prices are not necessarily an issue over the long term. I've experienced them myself and it's not caused an issue, quite the opposite in fact.


Please tell us how old you are and what type of accomodation you live in so that we can judge your personal success. I don't expect an answer from this because I think you either live in a grotty HMO or your parents back bedroom at 50 - feel free to dispute and tell us how you did so well so posters can decide how seriously to take your comments.

BTW, did you sell your house yet?

lisyloo

You said they are falling in London and I agreed they are falling BECAUSE supply is outstripping demand (among other things).....so what was your point again?

I am asking you to back up your point in #43 which does not mention London. Are you going to do that or not?

You don`t really believe the stats from mortgage lenders do you?

Your own link was from NAEA. Make up your mind what is valid and what is a VI !

lisyloo

Crashy_Time wrote: »

BTW, did you sell your house yet?

Do you mean the flat I'm selling on behalf of my MIL?
Exchange is set for tomorrow, but no it's not a done deal.

lookstraightahead

I'm waiting. I was hit by the 2009 crash. Badly. I'm now in a good financial position but waiting to buy as I really really think it's a wise move. I could be wrong. But I'm not going to throw money away for nothing again. I'm still getting on with my life because you don't have to own a house to do this. You can be successful in many ways.

My own personal opinion is that there is a lot of false wealth about, and I know as it happened to me. I'm very cautious about Brexit and the housing market in general at the moment.

I can see all those huge expensive cars borrowed on the never never going back too

epinjy

First time buyer, had my offer accepted last week. Definitely no crash coming in the east midlands. I don't believe the government has enough of a spine to follow through with a "no deal brexit" or "hard brexit" or whatever people are calling it these days so I'd expect prices to keep going up and probably pick up towards the summer as those who waited play catch up. (And if a crash comes, I'm really not going to lose any sleep being locked in to 5 years of mortgage payments currently around 50% lower than it would be to rent the kind of house I'm buying. My job and employ-ability prospects are pretty secure).

Alter_ego

Exchanged yesterday, completion 19th. Hold up was Vendor paying off help to buy and buying another with HTB. Apparently they need 15 working days between transactions.

lookstraightahead

epinjy wrote: »

First time buyer, had my offer accepted last week. Definitely no crash coming in the east midlands. I don't believe the government has enough of a spine to follow through with a "no deal brexit" or "hard brexit" or whatever people are calling it these days so I'd expect prices to keep going up and probably pick up towards the summer as those who waited play catch up. (And if a crash comes, I'm really not going to lose any sleep being locked in to 5 years of mortgage payments currently around 50% lower than it would be to rent the kind of house I'm buying. My job and employ-ability prospects are pretty secure).

Glad you are so positive. Don't forget that the first few years are interest payments only. I'm looking at buying again in the midlands and I see very little movement. If we don't have hard Brexit then it's gonna go on for ever. Why do you think house prices will go up in the summer?

CarrieVS

lookstraightahead wrote: »

I'm waiting. ... I'm still getting on with my life because you don't have to own a house to do this. You can be successful in many ways.

Of course. I don't think anyone is suggesting otherwise.
I think when people say they're not letting Brexit stop them getting on with their life they mean that their own life plans around this time include buying or selling property, not that everyone's should. At any rate that's what I meant: for me it's time to get a long-term home. I've been waiting for a long time for my circumstances to make it feasible and I'm not gonna wait any longer.

epinjy

Once the government have no choice but to admit that no deal is not an option (before end of March), many of those sitting and hoping for a crash will just have to accept that brexit isn't going to cause one so I'd expect housing market activity to pick up.

Crashy_Time