Housing market after Brexit

OldMusicGuy

Well, our EA has just had two record months in terms of sales (Berkshire). We've had loads of viewings although securing offers was challenging due to the amount of property on the market and also a lot of competition from new builds. But certainly not a dead market here (Wokingham area).

sal_III

jimbog wrote: »

I would have thought he still would need a place to live

The question is can she afford the mortgage with the reduced income?

jimbog

sal_III wrote: »

The question is can she afford the mortgage with the reduced income?

Or indeed the rent?

Crashy_Time

https://www.independent.co.uk/news/business/news/pmi-slide-uk-construction-drop-output-building-a8984176.html

jonnygee2

One agent claims that most properties in Bucks will be 10% more expensive in 3 years' time to make up for the recent stagnation and some falls in certain areas with a big proviso..

Ask 100 Economists what will happen to the economy after Brexit and you'll get 100 different responses.

So sure I suppose you may as well ask an estate agent.

Crashy_Time

It is the greedy sense of entitlement in that EA statement (he is only commenting on the deluded entitled types he relies on for his bread and butter though to be fair) that will make a JC government all the more likely as we go on through the present political upheaval. If house prices had been allowed to correct when they were supposed to there is no way a leave vote would have happened, or JC would have got anywhere near No.10. At least the EA gets it that there will be price falls when JC takes the wheel.

Davesnave

jonnygee2 wrote: »

Ask 100 Economists what will happen to the economy after Brexit and you'll get 100 different responses.

If you ask two economists what will happen in any scenario, you get 3 answers from each, so I'm afraid your maths doesn't add up.

LadyTC

OldMusicGuy wrote: »

Well, our EA has just had two record months in terms of sales (Berkshire). We've had loads of viewings although securing offers was challenging due to the amount of property on the market and also a lot of competition from new builds. But certainly not a dead market here (Wokingham area).

That's amazing and encouraging as so close to us - we are using Frosts and they are touting a very gloomy picture & we do see many For Sale boards but very few Sold ones (Aylesbury / Wycombe area).

Thanks

OldMusicGuy

LadyTC wrote: »

That's amazing and encouraging as so close to us - we are using Frosts and they are touting a very gloomy picture & we do see many For Sale boards but very few Sold ones (Aylesbury / Wycombe area).

Wokingham's a bit different to Aylesbury (I used to live there). We are pretty close to a lot of high tech employers that pay very well, IMO Aylesbury's a bit too far from the Thames Valley to get them as potential buyers.

We've had close to 30 viewings but the competition from new builds meant we had to drop our price to secure a buyer. Our house is 20 years old and the design and layout is a bit dated compared to new builds, despite it being a lovely house in a great position. Also, the developers are offering incentives that were making some people choose a new build over ours.

Crashy_Time

https://www.todaysconveyancer.co.uk/main-news/uk-property-transactions-fall-third/