Ridiculous listing prices

jimbog

Thrugelmir said:

Getting_greyer said:

There maybe a glut of btl on the market come the summer/autumn that will see some bargains for those that are in a position to snap them up. 

A considerable number of migrant EU workers appear to have left the country.

Yet many in Hong Kong have now been given the green light to enter the UK

Thrugelmir

jimbog said:

Thrugelmir said:

Getting_greyer said:

There maybe a glut of btl on the market come the summer/autumn that will see some bargains for those that are in a position to snap them up. 

A considerable number of migrant EU workers appear to have left the country.

Yet many in Hong Kong have now been given the green light to enter the UK

Doesn't change the short term outlook. 

Mickey666

Yes, 5.4m now have the right to move to the UK - far more than the number of EU-born migrants living in the UK, which rather puts all those Brexit concerns over EU migrants into the shade.
https://migrationobservatory.ox.ac.uk/resources/briefings/eu-migration-to-and-from-the-uk/

Of course it's unlikely that they'll all come here but government estimates are for 300,000 over the next five years, which is about the population of Nottingham, so what sort of pressure do we think this will put on house prices?     
Or maybe they'll all be coming here to take advantage of the imminent house price crash
https://www.bbc.co.uk/news/world-asia-china-55357495

Perhaps the government master plan (surely an oxymoron? ) is to house them all in the City of London as part of the rumoured relaxation of international trade and financial regulation to create a tax efficient centre of international commerce modelled after Singapore.  Only joking, honest

MobileSaver

Thrugelmir said:

With the early demise of many due to Covid.  A weakening would be no surprise given.

I suspect the numbers are pretty insignificant in regards to the housing market. While over 100,000 have tragically died due to Covid, most estimates suggest around 25% of those would have died anyway due to illness or old age so the effect of those on housing trends would be zero.

Similarly, most of those who died are the over-80s who were much less likely to be living in their own home anyway.

Anecdotally, of all those I knew who sadly died from covid, all but one was living in a care home and the one exception had serious underlying health conditions.

RelievedSheff

MobileSaver said:

Thrugelmir said:

With the early demise of many due to Covid.  A weakening would be no surprise given.

I suspect the numbers are pretty insignificant in regards to the housing market. While over 100,000 have tragically died due to Covid, most estimates suggest around 25% of those would have died anyway due to illness or old age so the effect of those on housing trends would be zero.

Similarly, most of those who died are the over-80s who were much less likely to be living in their own home anyway.

Anecdotally, of all those I knew who sadly died from covid, all but one was living in a care home and the one exception had serious underlying health conditions.

And we know of a couple of cases where Covid has contributed to even more stress on the housing market.

One example is a family of three, mum, dad and 22 year old son, all living in one property. During lockdown the couple have split up and decided to go their separate ways. Son has decided now is as good a time as any to buy his first home. So from that one property there is now a need for three homes.

Dave_6

Definitely seeing higher prices in Essex, there are very little 4 bed or larger 3 bedroom properties on the market so when they do come up for sale they are selling within 48 hours..  I viewed an extended 3 bedroom property at the weekend but 20 other people were also booked in the same day. I sold my own properly in 3 days but now have the issues of finding something.
I'm tempted to vacate and become chain free in the hope the market is a bit more stable in a couple of months with more coming available and prices settling (who knows what will happen though)

MobileSaver

RelievedSheff said:

During lockdown the couple have split up and decided to go their separate ways.

Good point and something I'd noticed myself and forgotten about.

Several of my Facebook friends have changed their relationship status to Single during the pandemic meaning in each case one household probably now requires two properties to house them. Of course in normal times this would be counteracted by new people getting together but it is almost a dead cert that new relationships will be at an all-time historical low in 2020/21 due to social distancing, lockdown and bars and clubs being closed.

strawb_shortcake

MobileSaver said:

RelievedSheff said:

During lockdown the couple have split up and decided to go their separate ways.

Good point and something I'd noticed myself and forgotten about.

Several of my Facebook friends have changed their relationship status to Single during the pandemic meaning in each case one household probably now requires two properties to house them. Of course in normal times this would be counteracted by new people getting together but it is almost a dead cert that new relationships will be at an all-time historical low in 2020/21 due to social distancing, lockdown and bars and clubs being closed.

Equally I've been surprised how many long term singletons and other single people I know have started relationships in the last 10 months. I think people being on their own has pushed them into realising they want/need someone in their life, often it's been someone they've known quite awhile. Others have still been using dating apps 

MobileSaver

annabanana82 said:

MobileSaver said:

Several of my Facebook friends have changed their relationship status to Single during the pandemic meaning in each case one household probably now requires two properties to house them.

Equally I've been surprised how many long term singletons and other single people I know have started relationships in the last 10 months.

If you are talking about people actually moving in together then that is very surprising considering it's been practically illegal for all intents and purposes over most of the last 12 months.

FirstTimeSolo

MobileSaver said:

If you are talking about people actually moving in together then that is very surprising considering it's been practically illegal for all intents and purposes over most of the last 12 months. 

People can move in together if they are in a support bubble together - single person households can form a support bubble with another household of any size.