If You cannot beat them join them.. Brexit will pump the market

triathlon

I see that there are loads of no hopers and failures have now picked up on the latest mantra of "a no deal Brexit will crash house prices" rubbish, this board is now flooded with threads.
Well hear is another one for you, might as well join in myself, I had breakfast with several estate agents and a few other connected with property investment and many others that were in the financial field.

I now have no doubts that UK property will rise on a no deal Brexit and the UK is already being flooded with foreign interest and should the UK leave with a no deal and the Pound plummets then it will be the early 2000's all over again

These property doomsters just cannot stop shooting themselves in the foot.

Reaper

A lower pound might make foreign buyers more willing to invest in property, though I suspect that will mostly just be in London.

The market has already slowed because people fear uncertainty. If you don't know how Brexit will affect the company you work for and therefore how secure your job is you have to be brave to take on a new or bigger mortgage.

When Brexit actually happens, if it does, then the uncertainty will be replaced with reality and house price will fall or rise depending whether it is better or worse than expected. And the pound will either fall further or recover.

I think your estate agent friends are being over optimistic firstly in under estimating the effects of uncertainty, and secondly in thinking they understand all the effects Brexit will have on the economy that affect them. It's not just sterling.

phillw

Reaper wrote: »

A lower pound might make foreign buyers more willing to invest in property, though I suspect that will mostly just be in London.

Some other cities are likely to also be affected now that the country isn't so London centric.
I don't think we'll see an immediate influx of cash buying up houses in every town, but I think it could split out into other cities and certain large towns as well.

triathlon

phillw wrote: »

Some other cities are likely to also be affected now that the country isn't so London centric.
I don't think we'll see an immediate influx of cash buying up houses in every town, but I think it could split out into other cities and certain large towns as well.

Cambridge
Manchester
Winchester
Oxford
Exeter

And so many of the rural areas such as the Cotswolds, Surrey and Kent just for starters

Sailtheworld

Do we know what proportion of sales went to foreign money in recent years? Sterling hit multi-decade lows three years or so ago so the housing sale should've already started.

Thrugelmir

The Russians have been money laundering for years already.

ccbrowning

Lots of foreign cash up near Manchester now, too. Not seen a report on how much Chinese and other investors have impacted prices here tho.

Rugosa

More importantly ...'A Deal ' is a euphemism for ' Remain IN the EU' ! ..and therefore remaining subject to
extraneous unelected ' EU commissioner's ' 'economic' policy whim ...which by definition no one can predict and for which neither is anyone accountable .
The bottom line is 'No Deal ' means getting rid of one layer of unaccountable Gov :
From there how we Gov. ourselves ! is in the hands of the UK public : not ' politicians ' or 'parties ' ;
Unless we choose to continue to vote for 'them ' that is , rather than expecting to :
Vote for and elect POLICY only ;
Nominate and Appoint sackable employee facilitators, of the POLICY elected ;
On the terms and conditions SET by the PUBLIC, their EMPLOYER .

andrewf75

Reaper wrote: »

I think your estate agent friends are being over optimistic

They always are aren’t they? It’s in their interest to talk the market up

Can’t see it myself. Prices are likely to fall, but it won’t make them more affordable

Crashy_Time

triathlon wrote: »

Cambridge
Manchester
Winchester
Oxford
Exeter

And so many of the rural areas such as the Cotswolds, Surrey and Kent just for starters

https://www.rightmove.co.uk/property-for-sale/property-73371389.html

50k price drop.

Crashy_Time

triathlon wrote: »

Cambridge
Manchester
Winchester
Oxford
Exeter

And so many of the rural areas such as the Cotswolds, Surrey and Kent just for starters

https://www.rightmove.co.uk/property-for-sale/property-72879227.html

45k price drop.