Blue&WhiteSea
Well-known member
Currently selling ours but struggling to find somewhere to buy. Tempted to let the sale go through and rent for a bit although the disruption of multiple moves puts me off.
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[Finance] Housing Market
- Thread starter swd40
- Start date
Jolly Red Giant
Well-known member
- Jul 11, 2015
- 2,615
an economic recession was already on the horizon in the next 6-18 months - the pandemic has simply accelerated and deepened it. It will take 3-4 years, and maybe longer, to work its way out of the capitalist system.
Jolly Red Giant
Well-known member
- Jul 11, 2015
- 2,615
If I was in your position I would sell - I would do so in the expectation that prices will drop.
nicko31
Well-known member
I'd exchange ASAP before you get gazundered!!!
studio150
Well-known member
The market will find it difficult to sell homes, as people will look to stay where they are due to the uncertainty around wages and future employment until the virus has abated.
It’s starting to effect lending decisions and criteria already. I’ve got a client quite senior in the travel industry looking to remortgage, application went in last week, should have been a very straight forward application, declined today by one of the mid range building societies due to his line of work and concerns his income will go down.
RandyWanger
Je suis rôti de boeuf
Safe as houses....
m20gull
Well-known member
I'm feeling pessimistic on prices. Our oldest is exchanging on their first house this week. I'm also executor for my parents' house which is currently on the market. I'm not expecting many imminent viewings! With such dented personal finances it's hard to see much activity soon.
I think house prices will go up massively but up less in real terms.
I'm predicting hyper inflation due to the trillions of cash being printed, leading to mass poverty and large increases in many asset prices. Not all as oil, for example, will not recover for a while.
My opinion will be updated daily and it may change at any time. Germany's economy between the world wars would be a useful comparison but I'm going shopping.
I'm predicting hyper inflation due to the trillions of cash being printed, leading to mass poverty and large increases in many asset prices. Not all as oil, for example, will not recover for a while.
My opinion will be updated daily and it may change at any time. Germany's economy between the world wars would be a useful comparison but I'm going shopping.
We were due to exchange contracts this week. I am under house arrest for 2 weeks. We are buying off a developer and doing part exchange for ours. I think it is very unlikely we will go through with it at expected price. I simply can’t afford to take that risk. If they want to do a deal then we can e.g. ten per cent off both properties. I would only lose a few grand based on what we have spent so far. Not ideal but not the time to spend 600k on a house!
In the process of selling mine at the moment. Accepted offer a week or so before things got messy, and we're in a short chain (i'm moving to rental for a short while). Hopefully will still all happen. The only thing that really worries me is that I may be one fo those going into the 12 week lockdown if it happens due to health issues, so not sure if that will affect the actual physical move?
Jolly Red Giant
Well-known member
- Jul 11, 2015
- 2,615
Given the antics of Johnson and co - there are likely to be a lot of houses on the market as elderly people die during this pandemic -
And I am sure the Telegraph will be delighted to see the culling of the old taking place.
Garry Nelson's teacher
Well-known member
As incomes drop - as they surely will if (when) we tip over into recession - then house prices should fall.
There are some other things to consider
1. virtually all asset classes are losing investors - so there's a chance that some of the money fleeing these will find it's way into the housing market;
2 if (when) government debt spirals, there could be a hike in interest rates
3. I've never once called the housing market correctly
There are some other things to consider
1. virtually all asset classes are losing investors - so there's a chance that some of the money fleeing these will find it's way into the housing market;
2 if (when) government debt spirals, there could be a hike in interest rates
3. I've never once called the housing market correctly
Hampster Gull
Well-known member
- Dec 22, 2010
- 13,465
Take about 40% off for several years
Hampster Gull
Well-known member
- Dec 22, 2010
- 13,465
I would sell, 100%, then wait a bit
yxee
Well-known member
Sales will stall but I can't see prices dropping. Fundamentally there are still lots of people wanting to buy, they are just delaying. And sellers are under no pressure to lower prices.
D
Deleted member 2719
Guest
I think the sombrero will invert, as people are scared of their future income, I also believe it to be the end of the high street estate agents and the internet to take 80% of the market with the Hamptons etc surviving.
Just a feeling.
Just a feeling.
Wrong-Direction
Well-known member
- Mar 10, 2013
- 13,631
Live by the sea
Well-known member
- Oct 21, 2016
- 4,718
I suspect house prices will stay very similar to what they currently are. Some people spooked by the 30% drop in the share market will no doubt pull there money out and invest in property. Probably a sensible thing to do. The stock market could take a long time , years to recover. People always need houses and flats to buy to live in.
Live by the sea
Well-known member
- Oct 21, 2016
- 4,718
Completely disagree, buyers and sellers need human interaction as property a very personal delicate matter , the internet can’t replicate that . I went to look at a house that was marketed by purple bricks - the communication I had with purple bricks was laughable , some young girl answered , clearly had no idea about the property, couldn’t answer any of my quite normal reasonable questions. If you pay peanuts to sell you get monkeys representing you.