Has fear of brexit spooked you buying a house ?
Discussion
rs4al said:
Maybe I should just plough my equity into a GT3 RS.....
It was only a thought about house prices but there is definitely something afoot in the housing market, new builds round here are now advertising offers, which was unheard of a few months ago.
As always it depends on where you want to buy. The SE East/west Sussex has been and still has massive demand for sales and rents. We cant get enough properties to rent out to meet the demand.It was only a thought about house prices but there is definitely something afoot in the housing market, new builds round here are now advertising offers, which was unheard of a few months ago.
I cannot see house prices falling at all, they are increasing as are rental prices. If you buy in a bad area then prices may go up or down but we all know of the 'good' areas of local locations - the question is if you can afford to buy there or take more of a risk for a cheaper location.
OP Buy the house. Live in it, enjoy it. A house is a house is a house you cant live in a Pound. A house will always have a value and will generally follow what other 'trends' are doing for other houses nearby. Again location is key.
superlightr said:
As always it depends on where you want to buy. The SE East/west Sussex has been and still has massive demand for sales and rents. We cant get enough properties to rent out to meet the demand.
I cannot see house prices falling at all, they are increasing as are rental prices. If you buy in a bad area then prices may go up or down but we all know of the 'good' areas of local locations - the question is if you can afford to buy there or take more of a risk for a cheaper location.
OP Buy the house. Live in it, enjoy it. A house is a house is a house you cant live in a Pound. A house will always have a value and will generally follow what other 'trends' are doing for other houses nearby. Again location is key.
Too true...shame all the bloody sellers are not putting their houses on the market because brexit !I cannot see house prices falling at all, they are increasing as are rental prices. If you buy in a bad area then prices may go up or down but we all know of the 'good' areas of local locations - the question is if you can afford to buy there or take more of a risk for a cheaper location.
OP Buy the house. Live in it, enjoy it. A house is a house is a house you cant live in a Pound. A house will always have a value and will generally follow what other 'trends' are doing for other houses nearby. Again location is key.
walm said:
There are a few things that are impacting the housing market right now.
1. The BTL rule change on stamp duty for second homes. Came into effect in April (IIRC) - brought forward significant volume into March.
2. More London-centric but any Brexit will hit GBP vs. all other currencies so that is making foreign property buyers wait. They genuinely WOULD be able to get a cheaper property by 8-10% if we Brexit owing to the currency drop.
3. Affordability. Last month house prices were STILL up 5% countrywide (Nationwide survey) hence affordability is becoming an increasing problem. Wages aren't keeping up with that.
4. Macro uncertainty from Brexit. There is no doubt that a new PM and 2 years of trade negotiations will cause macro problems for the UK.
And any combo of 1,2,3 and r will hit sentiment which means people thinking of SELLING might just wait until the uncertainty of Brexit is out of they way before bothering to list their property, leading to less inventory and less willing buyers.
I strongly doubt you would see 10-20% price drops but the above explains part of why Brexit does matter.
I'd also add the increased rates for stamp duty (particularly for London and the SE) this is a pain.1. The BTL rule change on stamp duty for second homes. Came into effect in April (IIRC) - brought forward significant volume into March.
2. More London-centric but any Brexit will hit GBP vs. all other currencies so that is making foreign property buyers wait. They genuinely WOULD be able to get a cheaper property by 8-10% if we Brexit owing to the currency drop.
3. Affordability. Last month house prices were STILL up 5% countrywide (Nationwide survey) hence affordability is becoming an increasing problem. Wages aren't keeping up with that.
4. Macro uncertainty from Brexit. There is no doubt that a new PM and 2 years of trade negotiations will cause macro problems for the UK.
And any combo of 1,2,3 and r will hit sentiment which means people thinking of SELLING might just wait until the uncertainty of Brexit is out of they way before bothering to list their property, leading to less inventory and less willing buyers.
I strongly doubt you would see 10-20% price drops but the above explains part of why Brexit does matter.
sealtt said:
I'm looking to buy a new place at the moment, but I will wait until after the vote to exchange - just to make sure that Britain stays in. If the vote is to leave I may not proceed with a new house until the economic impact of the vote becomes more clear.
What sort of timeframe would you expect to see the economic impact of a vote to leave becoming clear?
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