Coronavirus effect on property markets?

Sailtheworld

silvertooth said:

Nebulous2 said:

TheCheerleader said:

triathlon said:

TheCheerleader said:

We have been here before, potential sellers will just put it off for a while, they know the demand will be sat waiting again.

Erm .. actually no we have not, it’s a perfect storm. 

The economy will not recover this year, a worldwide recession is looming. 

China will for the first time in 10 years show negative growth.
 Covid-19 is keeping people from travelling, socialising, eating out, going to theatres,cinemas, concerts etc.
A no deal brexit also on the horizon.

Forecast for Chinese growth this year of 4.6%. Very low by historic standards, but not negative. 

Ha there is no way China will have any growth this year 

THEY ARE SHUT DOWN

nobody is going to work, nobody is getting paid, nobody is paying their rents or mortgages 

the banks are collapsing 

mall the media can do is try to hide it for as long as they can

I work for a company which imports from China. Shipments have been unaffected.

China is (slowly) getting back to work but their problem might well be a lack of demand as more cases appear outside of China. 

Fortunately, simpletons around the world are kindly keeping up demand as they strip the shelves bare of bog roll, baked beans and handwash.

triathlon

Sailtheworld said:

Crashy_Time said:

Sailtheworld said:

Crashy_Time said:

TheCheerleader said:

Back on topic... Even Martin says a slow down of the housing market is likely on the home page. 

I was getting concerned as we have a buyer from last summer,( looong delay, long story) prices had gone up since in the area we are looking, and houses were selling quickly. I am now seeing hardly anything new and also some reductions. We are thinking of stepping off the ladder and back on at a later point.

 The Price Police have been much less active of late on here, even the most hopeful "property is my fortune" people must realise that this bubble is unsustainable now?

You've been going on about an unsustainable bubble for how long now? 5 years? 10 years? Since you sold to rent in 1998?

Maybe you should have a word with yourself.

Do you think it is sustainable? Why not go on record now and make a prediction one way or the other....

I reckon that house prices at the end of a year will be within +/- 10% of where they started the year. As a prediction that would've been correct every year since 1995 apart from the beginning and end of the noughties.

Of course your prediction that, one day, there will be a crash is absolutely nailed on. Maybe you could fine tune it and try and pin it down to a certain decade or two. You don't really get it - the what is important but so is the when. How long have you been crying wolf for now? 

I will agree with the doom mongers that the markets will collapse for a while and that there will be a few worries in the next few months, it's the second time in the last 15 years I have bothered to predict anything like a correction compared to the thousands of them made on certain other crashy websites, my last prediction  being in 2006 just before the 2007/08 financial crisis.
And yes we will get a property crash at some point, but other than that I know about as much as the next man and keep my suspicions to myself mostly. My gut feeling though is that there will be a panic this year before we realise that we have gone over the top and things turn out far better than we thought they would, then pent up demand will get us back to where we were before or even better.

homeless9

10 years of saving for a house, seeing house prices rise at ridiculous rates in this time...... I finally have enough money, settled in work and settled in a town, find a property I like and mortgage agreed this week....

Sods ruddy law this whole coronavirus thing blows up worldwide in the same week. I kind of feel like giving up buying, the whole thing is against me.

silvertooth

homeless9 said:

10 years of saving for a house, seeing house prices rise at ridiculous rates in this time...... I finally have enough money, settled in work and settled in a town, find a property I like and mortgage agreed this week....

Sods ruddy law this whole coronavirus thing blows up worldwide in the same week. I kind of feel like giving up buying, the whole thing is against me.

Wait at least a year 

I expect falling prices for a few years but certainly this time next year significantly lower average prices across the board

triathlon

Two fake posts today, guess which

silvertooth

One good thing about the pandemic is how many people now want to move away from the cities.

lots of big companies are asking people to work from home and this trend will likely continue after the crisis is over.

property prices in cities will fall a long way even further now

good for lower London prices 

every cloud and all

silvertooth

I’m an apocaloptomist.

yes this pandemic is going to be really bad for a few years and yes lots of people are going to be affected 

but this has many good points.

the air is cleanest in China for a long time since it’s been shut down

thr big banks all collapsing later this year is a good thing, the criminals will have to stop manipulating prices of everything and true value will return with free markets 

a good clean up all round

gfplux

silvertooth said:

One good thing about the pandemic is how many people now want to move away from the cities.

lots of big companies are asking people to work from home and this trend will likely continue after the crisis is over.

property prices in cities will fall a long way even further now

good for lower London prices 

every cloud and all

So move from London and buy a house on a flood plain. Good idea.

Nebulous2

silvertooth said:

One good thing about the pandemic is how many people now want to move away from the cities.

lots of big companies are asking people to work from home and this trend will likely continue after the crisis is over.

property prices in cities will fall a long way even further now

good for lower London prices 

every cloud and all

No chance. Ever since the industrial revolution there has been an inexorable drift from the country to the town. There have been occasional short-term reversals of that, but overall it goes one way. 

As we decarbonise and reduce the space given to retail, towns will get better. Less fumes, more leisure activities, better public transport. They are also better in power consumption per person, a more efficient lifestyle, despite all the hype about the good life.

silvertooth

Can you make some predictions about gold and silver prices over the next year and more? Why would anybody sell monetary precious metals in this environment? You don’t get rid of water in the desert, you need more of it.