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House Price Crash Forum

cool_hand

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  1. 13:02 What's going to happen to the housing market? Kevin Peachey Personal finance reporter What's going to happen to the housing market when the pandemic finishes? I'm afraid my crystal ball has smashed. There's no point making forecasts at the moment. The number of sales has dropped off a cliff. Lots of sales were cancelled. The peak of that was on 23 March - the day the restrictions on movement were announced. What's difficult to tell is if there's a lot less activity, how that translates to prices. There are different views from different people - get 10 economists in a room, you'll get 11 answers. There are people saying prices will fall, there are others saying because there's so much government support in place it could bounce back quite quickly. Once a Kevin always a Kevin
  2. I'd love a HPC - I'd like to see falls of 50% - it just never seems to happen, printy printy.
  3. you're going to have to give a little more detail than that sunshine
  4. Yes, but this crisis is going to last 18 months max. IMO - that's unless they're unable to make a vaccine. My fear now is anyone holding cash is going to be well and truly f*cked as hyper-inflation is the potential outcome of this intervention.
  5. The overdue house price crash has been well and truly cancelled.
  6. https://www.bbc.co.uk/news/business-47389160 Foxtons warns London housing market in 'prolonged downturn' London-focused estate agent Foxtons has swung to a loss and says the housing market in the capital is in a "prolonged downturn". The company reported a loss of £17.2m for last year, partly due to the costs of closing six offices. It made a profit of £6.5m in 2017. Foxtons added that Brexit uncertainty was "impacting consumer confidence". Separately, the Nationwide said the UK market remained "subdued", with prices up 0.4% in February from a year ago. 'Further deterioration' Foxtons said annual revenues fell 5% to £111.5m, with the weakness in property sales being offset slightly by a "resilient lettings performance". The estate agent was pushed into the red by one-off charges of £15.7m, which included the costs of closing six offices: Beckenham, Enfield, Loughton, Ruislip, Park Lane and Barnes. Foxtons said it was able to cover 85% of London from 61 branches and had no current plans for further closures. "Our performance in 2018 was impacted by a further deterioration in the sales market, with transaction levels falling for another year from their already low levels," said chief executive Nic Budden. However, the company said that in the long term, London remained "a highly attractive property market". Weaker sentiment The Nationwide said that house prices in February dipped 0.1% from the month before, with the average property now costing £211,304. The Nationwide's chief economist, Robert Gardner, said: "Indicators of housing market activity, such as the number of property transactions and the number of mortgages approved for house purchase, have remained broadly stable in recent months, but survey data suggests that sentiment has softened. "Measures of consumer confidence weakened around the turn of the year and surveyors reported a further fall in new buyer enquiries over the same period. "While the number of properties coming onto the market also slowed, this doesn't appear to have been enough to prevent a modest shift in the balance of demand and supply in favour of buyers in recent months."
  7. don't agree, and neither does the stock market, builders were down heavily on Friday.
  8. What are we all here for? A House Price Crash. This has got to put a dent in the market, how big, that is the question?
  9. I was completely ignoring this until yesterday. If Labour win or Labour/Lib coalition it is a disaster for the country and you can forget Brexit - they will derail it. Could end in civil war.
  10. yes, but the bank of England did a study and it found as house prices rise homeowners spent more money but as house prices fell homeowner didn't spend any money - homeowners actually stopped eating and breathing. it's such narrow minded nonsense to think lower house prices will lead to financial armageddon.
  11. Yes I listened to it and I thought she was and idiot because she's saying f*uck young people and f*uck anyone who can't afford to buy a home.
  12. Freedom of Movement deprives the country of the skills it needs when it's indigenous residents move away to take jobs in the UK or elsewhere. But no one ever talks about that!
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