Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • dutchcloggie
    • By dutchcloggie 13th Sep 18, 7:25 AM
    • 149Posts
    • 33Thanks
    dutchcloggie
    Sell before Brexit?
    • #1
    • 13th Sep 18, 7:25 AM
    Sell before Brexit? 13th Sep 18 at 7:25 AM
    Hi,

    What do people feel about the housing market after Brexit? I am thinking of selling my house now and then buy another one after Brexit as I believe house prices will drop substantially. Is that a stupid idea or do people think there is mileage in it?
Page 1
    • Doozergirl
    • By Doozergirl 13th Sep 18, 7:39 AM
    • 26,031 Posts
    • 70,307 Thanks
    Doozergirl
    • #2
    • 13th Sep 18, 7:39 AM
    • #2
    • 13th Sep 18, 7:39 AM
    There's a board specifically for debating house prices.

    I like living in my house. It also costs time, money and stress to move and to rent.

    No one has a crystal ball either. Some people are quite delighted about Brexit, hence it's happening.
    Everything that is supposed to be in heaven is already here on earth.
    • Comms69
    • By Comms69 13th Sep 18, 7:40 AM
    • 5,489 Posts
    • 5,582 Thanks
    Comms69
    • #3
    • 13th Sep 18, 7:40 AM
    • #3
    • 13th Sep 18, 7:40 AM
    Define substantially...

    Like any major change there is a dip for a short period of time. But Brexit will have no real effect on prices.

    If you think you’re going to grab a bargain, you’ll most likely end up missing out.
    • trailingspouse
    • By trailingspouse 13th Sep 18, 7:43 AM
    • 3,015 Posts
    • 4,879 Thanks
    trailingspouse
    • #4
    • 13th Sep 18, 7:43 AM
    • #4
    • 13th Sep 18, 7:43 AM
    If selling is such a fab idea - why would anyone want to buy your house??
    • dutchcloggie
    • By dutchcloggie 13th Sep 18, 7:47 AM
    • 149 Posts
    • 33 Thanks
    dutchcloggie
    • #5
    • 13th Sep 18, 7:47 AM
    • #5
    • 13th Sep 18, 7:47 AM
    Erhm ... Slight misunderstanding here. Im not just out for a bargain. I'm thinking of moving anyway. Just wondered about timings. This is a forum for money saving so I don't think there's any issue with trying to save money?
    Brexit is a pain so I don't have any problems with making at least part of it work in my favour...
    • phillw
    • By phillw 13th Sep 18, 7:50 AM
    • 1,398 Posts
    • 1,064 Thanks
    phillw
    • #6
    • 13th Sep 18, 7:50 AM
    • #6
    • 13th Sep 18, 7:50 AM
    Define substantially...

    Like any major change there is a dip for a short period of time. But Brexit will have no real effect on prices.

    If you think you’re going to grab a bargain, you’ll most likely end up missing out.
    Originally posted by Comms69
    If you're living in an area of depressed house prices, then there is less of a chance of a strong movement. However I know someone who rented a converted barn with land and during their tenancy the value of it dropped considerably more than the rent they were paying. That couple could afford to take the risk, or at least they have a high income that they are willing to gamble will always be there.

    Everyone can't make money in a market that is hard to predict, some people could sell before brexit and buy afterwards and make money while others will lose out.

    If you can afford to take the risk and have the ability to guess well then you might make out of it. I doubt anyone like that would be asking the question on MSE though.

    I'm thinking of moving anyway. Just wondered about timings. This is a forum for money saving so I don't think there's any issue with trying to save money?
    Originally posted by dutchcloggie
    Asking people you don't know for gambling advice is kinda pointless. The kind of people who are successful with those kinds of risks rarely tell you how to duplicate their success, because it would affect their own.

    Brexit could cause a drop or a rise in property prices. Depending on how many properties are available in an area and how many people are desperate to buy in that area. If you're looking to buy a property near one of the car manufacturing plants then you may be able to snap up a bargain. It depends on whether the people who work there are selling up to move to europe, or whether they get stuck there with a mortgage they can't pay. The latter then depends on how the lenders deal with the situation as the government might step in.
    Last edited by phillw; 13-09-2018 at 7:59 AM.
    • dutchcloggie
    • By dutchcloggie 13th Sep 18, 7:53 AM
    • 149 Posts
    • 33 Thanks
    dutchcloggie
    • #7
    • 13th Sep 18, 7:53 AM
    • #7
    • 13th Sep 18, 7:53 AM
    Sorry. Please ignore the snipy tone of my reply. I misinterpreted one of the responses but on re-reading it, I realise I jumped the gun. Sorry.
    • lewisa
    • By lewisa 13th Sep 18, 8:14 AM
    • 246 Posts
    • 366 Thanks
    lewisa
    • #8
    • 13th Sep 18, 8:14 AM
    • #8
    • 13th Sep 18, 8:14 AM
    We waited 4 or 5 months to move because I wanted to wait for the outcome of the vote, my thinking being that if leave won prices would drop.


    All we achieved was missing out on a few houses we liked and paying more for the house we eventually bought than we would have if we hadn't hung around.
    • AnotherJoe
    • By AnotherJoe 13th Sep 18, 8:26 AM
    • 11,457 Posts
    • 13,220 Thanks
    AnotherJoe
    • #9
    • 13th Sep 18, 8:26 AM
    • #9
    • 13th Sep 18, 8:26 AM
    To answer your question, I think it's a stupid idea to do it purely on Brexit criteria.
    Whether it's a good idea to rent between moves is a very different question and dependent upon multiple factors. Since you only dropped in, in passing the fact you were moving anyway and have given no more details, no way to say.
    • SmashedAvacado
    • By SmashedAvacado 13th Sep 18, 9:01 AM
    • 455 Posts
    • 463 Thanks
    SmashedAvacado
    People like certainty
    We are already in a place where there is no certainty because we are not clear how things will look in April
    So selling now will likely already be negatively impacted - regardless of what a deal or no deal looks like - because people are already pricing that risk in.

    This is why every time there is a news story about getting closer to a deal the currency strengthens - because any deal will provide certainty.

    The best time to sell is in a strong market, the worst time to sell is in a weak market. We are not in a strong market generally but there will be pockets of strength at the moment in particular types of properties and in particular places. Where you live and your type of property is more relevant than anything else.
    • SeasideSally
    • By SeasideSally 13th Sep 18, 9:55 AM
    • 95 Posts
    • 104 Thanks
    SeasideSally
    The best time to sell is in a strong market, the worst time to sell is in a weak market. We are not in a strong market generally but there will be pockets of strength at the moment in particular types of properties and in particular places. Where you live and your type of property is more relevant than anything else.
    Originally posted by SmashedAvacado
    We are in an area with a strong market, and we're moving to one that's weaker. Despite the uncertainty following the referendum, and that surrounding the events to come, the prices here have just gone up and up. Apparently, the high prices here are due to the town being the set of a TV programme, so what's on the box has more of an effect than world changing economical events when it comes to the property market.
    • Satansallsmiles
    • By Satansallsmiles 13th Sep 18, 10:16 AM
    • 19 Posts
    • 3 Thanks
    Satansallsmiles
    I'm currently selling, and Brexit is one of my considerations - If it does all go sideways as a result I'd rather be stuck in a house that has enough space and I want to be in for the next 10 years, rather than being stuck in my current property which is going to be too small in the next year or so.


    So I was going to move, but the pending brexit uncertainty has definitely moved the timeline up.
    • armchaireconomist
    • By armchaireconomist 13th Sep 18, 10:28 AM
    • 341 Posts
    • 417 Thanks
    armchaireconomist
    It's a brilliant idea, obviously post-Brexit we'll be back to living in mud and straw hovels and nobody will need houses anymore.


    In all seriousness, you might see some slight movement in the inflated markets down south where the foreign investor is king, but for the most part it will be negligible - the supply/demand issues facing our housing market will override any post-EU downfall.
    • phill99
    • By phill99 13th Sep 18, 10:35 AM
    • 8,244 Posts
    • 7,428 Thanks
    phill99
    Stop looking upon your home as an investment. It is somewhere to live and bring up a family. You still need somewhere to live.


    Locally to me Brexit has had no affect on house prices. The opposite in fact. Demand still outweighs supply so that only results in one thing.


    Remember post Brexit there wont be a mass exit of Eastern Europeans. A lot of them are well settled with kids at school.


    Remember houses are for nesting not investing.
    Eat vegetables and fear no creditors, rather than eat duck and hide.
    • hazyjo
    • By hazyjo 13th Sep 18, 10:51 AM
    • 11,068 Posts
    • 14,612 Thanks
    hazyjo
    Will you look to sell every time there is a dip in prices? They don't always go up! I have been through two recessions and didn't feel the need to sell to use it to make money. Who knows how long it will take.


    My friend sold up in the mid-'90s as she wasn't too settled in their home, but prices started rocketing soon after and they couldn't afford to buy again. They have rented ever since (and she's regretted it). Without the aid of a crystal ball, it's a gamble.


    Also, it's just cost me £20k to move. It ain't cheap!


    IMO you'd be far better off overpaying, getting as much equity in it as poss to avoid any negative equity, then moving UP if prices fall drastically and taking the hit on your current cheaper property. What you will afford then in a buyer's market will be far more than you'd ever afford in a rising (seller's) market. Just my opinion...
    2018 wins: Single Malt Whisky; theatre tickets; festival tickets; year of gin(!); shoes; Thai cooking stuff; Jo Brand talk; Slime Factory; Flawless tickets; Comedy night tickets
    • sevenhills
    • By sevenhills 13th Sep 18, 11:02 AM
    • 1,730 Posts
    • 629 Thanks
    sevenhills
    I have read about another financial crash recently, or at least a downturn; me selling my shares and re-investing in something else is a non-starter.
    Brexit may well bring a downturn, I have no idea if that means house prices will rise faster or slower than inflation.

    • movilogo
    • By movilogo 13th Sep 18, 12:37 PM
    • 2,365 Posts
    • 1,612 Thanks
    movilogo
    my thinking being that if leave won prices would drop
    It is less depending on leaving EU but more dependent on freedom of movement continuation or not.

    If population keep on increasing, house price will rise else it will fall.
    Happiness is buying an item and then not checking its price after a month to discover it was reduced further.
    • Grenage
    • By Grenage 13th Sep 18, 12:53 PM
    • 1,615 Posts
    • 1,537 Thanks
    Grenage
    Timing the market is near impossible, and any success will be dumb luck. Maybe prices will spike and you'll be 60k out of pocket, and maybe prices will crash 40%.


    No point speculating, especially when you've only got one house - just get on with your life and take the highs with the lows.
    • Marvel1
    • By Marvel1 13th Sep 18, 1:04 PM
    • 3,627 Posts
    • 3,964 Thanks
    Marvel1
    Bought in 2007, crashed just after, not recovered, so I don't care = roof over my head, mortgage is affordable, lucky on the rates as they dropped and I benefited.
    • Crashy Time
    • By Crashy Time 14th Sep 18, 6:05 PM
    • 6,809 Posts
    • 2,511 Thanks
    Crashy Time
    Define substantially...

    Like any major change there is a dip for a short period of time. But Brexit will have no real effect on prices.

    If you think you’re going to grab a bargain, you’ll most likely end up missing out.
    Originally posted by Comms69

    What do you base this thinking on?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,935Posts Today

7,669Users online

Martin's Twitter