Guest BillyNI Posted June 23, 2016 Share Posted June 23, 2016 Remain already priced in since the Jo Cox production sealed the deal. Production? Quote Link to comment Share on other sites More sharing options...
Errol Posted June 23, 2016 Share Posted June 23, 2016 Buy rumour sell news. This is usually the case, so would expect a large move down in the £ and markets if remain win. Quote Link to comment Share on other sites More sharing options...
R K Posted June 24, 2016 Share Posted June 24, 2016 IGSquawk @IGSquawk 13m13 minutes ago Sterling recovering after shock #Brexit vote. Cable hit a low of $1.3232, now trading $1.3950, #EURGBP below £0.80 #GBPUSD RO Meh Quote Link to comment Share on other sites More sharing options...
Venger Posted June 26, 2016 Share Posted June 26, 2016 We'll see how it plays out. I don't claim to have any advanced understanding of that side of currency side of the market. Got to wonder what it means for those who keep telling us '2008 happened already' + point to how there was a significant HPC for dollar holders + sees only long term HPI. Yes HPI reflation, but those foreign buyers just taken a hit in £, on 24th. Lower sterling going to bring in more foreign buyers against a backdrop of uncertainty re EU, nevermind all the other tightening with ATED, higher stamp duty. What about all the US interests who've been buying in UK recent years (hotels and the like - prime housing), with dollar wealth/financing. For the moment, a hit vs their dollar positions. Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted June 26, 2016 Share Posted June 26, 2016 Foreign buyers won't buy property for sometime. I suspect 4-5 years. It is simply too risky to put vast swathes of cash into an illiquid asset until a currency has bottomed or is very cheap. 1.37 isn't very cheap. Quote Link to comment Share on other sites More sharing options...
Beborn Posted June 26, 2016 Share Posted June 26, 2016 Foreign investors eye UK property after Brexit fallout HONG KONG: With property prices in Britain predicted to plummet post-Brexit, foreign investors, especially in Asia, are already poised for a buying spree. It is an ironic twist to the shock referendum result ─ many who opted to leave the European Union saw their vote as a deterrent to outsiders looking to take advantage of economic opportunities in Britain. The aftermath of Thursday's vote to leave the EU saw the resignation of British Prime Minister David Cameron and the collapse of the pound to a 31-year low. There was pandemonium on currency, equity and oil markets. At around 2100 GMT Friday, sterling was down about 8.8 per cent against the dollar compared with Thursday night, and foreign exchange experts predicted more weakness ahead. Property prices are also expected to take a hit, with reports of buyers pulling out of transactions due to market uncertainty. But while there may be a "wait and see" approach for some, ambitious foreign investors are on the hunt for bargains while the exchange rate is so low. "Several of my opportunistic investors have said we really ought to think about this seriously, and to think whether we should take advantage of this new window in the market," said Nicholas Brooke, chairman of professional property services for the Royal Institution of Chartered Surveyors. "Anyone who's not dealing in sterling would see an opportunity." Brooke, whose firm plays an advisory role for prospective buyers, said while many clients remained cautious, some in Hong Kong and China with "substantial" investment capabilities had voiced interest. London-based international property agent Knight Frank also said foreign investors would be wary as they assessed the full impact of the Brexit fallout, but the drop in the pound would mean their buying power would "increase significantly". Interest would be especially strong from China, Hong Kong and Singapore ─ where investors have a long history of buying up property in Britain, especially London, the firm's Asia-Pacific specialist Nicholas Holt said. Chinese international property portal Juwai.com predicted 30pc more consumer enquiries this month than in May. The historic low of the pound against the Singapore dollar also constituted a "fantastic buying opportunity" for investors in the city, added Donald Han, executive director of Chesterton Singapore, a consultancy specialising in UK property. 'Wholehearted embrace'Asian investors have long sought out both commercial and residential UK property off the back of potential for capital growth and a resilient economy. London house prices are some of the most expensive in the world and have been on the rise over the past six years. But in the wake of the Brexit vote, international consultancy KPMG has forecast house prices could fall 5pc nationwide and even more in the capital. Property consultancy Jones Lang LaSalle (JLL) said capital value adjustment could be down up to 10pc in the next two years. The International Monetary Fund has warned that the British economy could sink into recession next year and overall economic output would be 5.6pc lower than otherwise forecast by 2019, with unemployment rising back above 6pc. However, the Brexit camp argues that the business world will adapt quickly with Britain's flexible and dynamic economy buoyed by new economic partners and selective immigration. "The UK's decision to leave the EU is an historic event and we should embrace this wholeheartedly," said Robin Paterson, joint chairman of UK Sotheby's International Realty. He predicted increased investment from from Asia as well as the US. Besides established investors into Britain, some areas might see new blood join the fray. JLL predicts more buyers from India, which is already an established source of property investment into Britain. "It is very likely that many more Indians will seek to invest there," said Anuj Puri, JLL chairman and country head for India. Quote Link to comment Share on other sites More sharing options...
Errol Posted June 26, 2016 Share Posted June 26, 2016 The cash for some people is irrelevant. They will want the prime properties in Knightsbridge or Mayfair. Money is irrelevant. You want the building. Who cares if it costs £50 million or £25 million? These people have 100s of millions if not billions. Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted June 26, 2016 Share Posted June 26, 2016 (edited) Production? There is a politically motivated killing of an MP in the UK roughly once every 5 years. So the base odds of such an event occurring randomly in the week before the referendum were approximately 1:250, bring the fact that the supposed political persuasion of the perp was a fringe minority at the extreme end of a particular side of the issue you can probably up those odds to several thousand to one. Edited June 26, 2016 by goldbug9999 Quote Link to comment Share on other sites More sharing options...
South Lorne Posted June 26, 2016 Share Posted June 26, 2016 Foreign buyers won't buy property for sometime. I suspect 4-5 years. It is simply too risky to put vast swathes of cash into an illiquid asset until a currency has bottomed or is very cheap. 1.37 isn't very cheap. ...foreign buyers were already put off by the government promise to ban overseas trusts in shady finance havens buying property mainly in London.....trust this is implemented soon to stop this money laundering..... Quote Link to comment Share on other sites More sharing options...
kibuc Posted June 26, 2016 Share Posted June 26, 2016 Speculative buyers can be easily kept at bay with proper regulations, all it takes is the will to do so. Quote Link to comment Share on other sites More sharing options...
rollover Posted June 26, 2016 Share Posted June 26, 2016 (edited) Risk Rout Deepens as Pound Slides Further on Post-Brexit Turmoil The bleeding in financial markets continued Monday, with the pound extending its record one-day selloff after the U.K.’s vote to exit the European Union threw British politics into chaos, fueling anxiety over the decision’s impact on the global economy. The rout in riskier currencies picked up where it left off Friday, with the Australian and New Zealand dollars slipping with the euro as the Norwegian krone tumbled more than 2 percent after U.S. oil broke below $48 a barrel. Sterling sank beyond $1.35, extending losses near weakest level since 1985 as investors face months of uncertainty over Britain’s future. “Markets will likely be in a febrile state for weeks to come,” said Ray Attrill, global co-head of foreign exchange strategy at National Australia Bank Ltd. in Sydney. “I’m not sure that changes even when the political leadership vacuum in the U.K. is filled.” Edited June 26, 2016 by rollover Quote Link to comment Share on other sites More sharing options...
workingpoor Posted June 26, 2016 Share Posted June 26, 2016 Osborne speech tomorrow morning Quote Link to comment Share on other sites More sharing options...
rollover Posted June 26, 2016 Share Posted June 26, 2016 Osborne speech tomorrow morning Another trillion will be wiped out from Asian markets, so until then, a very good night! Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted June 26, 2016 Share Posted June 26, 2016 I'm betting it's just a reword of what Carney said Quote Link to comment Share on other sites More sharing options...
workingpoor Posted June 26, 2016 Share Posted June 26, 2016 Im betting alot more, Interest rates up to stabilise the £ & We will QE whatever it takes to reassure investors, etc Quote Link to comment Share on other sites More sharing options...
Noallegiance Posted June 26, 2016 Share Posted June 26, 2016 Im betting alot more, Interest rates up to stabilise the £ & We will QE whatever it takes to reassure investors, etc QE = Pringles. Once you pop...... Other savoury snacks are available. Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted June 26, 2016 Share Posted June 26, 2016 If they go up I'm taking the day off to get sloshed. Quote Link to comment Share on other sites More sharing options...
workingpoor Posted June 26, 2016 Share Posted June 26, 2016 If they go up I'm taking the day off to get sloshed. They have in these situations in the past remember '90's when they put them up 4 times in 1 day to try and prop the £? Well this is bigger!!! Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted June 26, 2016 Share Posted June 26, 2016 I don't remember actually, I was out playing Quote Link to comment Share on other sites More sharing options...
Timbuk3 Posted June 26, 2016 Share Posted June 26, 2016 They have in these situations in the past remember '90's when they put them up 4 times in 1 day to try and prop the £? Well this is bigger!!! I do, It was about a week after I bought a house. Shat myself when I heard the news, no way I could have afford the payments at those levels. Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted June 26, 2016 Share Posted June 26, 2016 Just looks like more cash / debt being promised. http://www.bbc.co.uk/news/business-36636762 Quote Link to comment Share on other sites More sharing options...
Guest BillyNI Posted June 26, 2016 Share Posted June 26, 2016 There is a politically motivated killing of an MP in the UK roughly once every 5 years. So the base odds of such an event occurring randomly in the week before the referendum were approximately 1:250, bring the fact that the supposed political persuasion of the perp was a fringe minority at the extreme end of a particular side of the issue you can probably up those odds to several thousand to one. Things with 1000 to one odds happen every day. You seem to be implying that some force was at play other than a nutter. Quote Link to comment Share on other sites More sharing options...
Guest BillyNI Posted June 26, 2016 Share Posted June 26, 2016 They're not going up mate. He's just trying to claim any bounce as his own. The chances of them putting up rates now are seriously low. Unless the £ falls by 10% tomorrow, no way is the rate going up. Quote Link to comment Share on other sites More sharing options...
man o' the year Posted June 26, 2016 Share Posted June 26, 2016 If he puts interest rates up (which he wont) it would have the opposite effect to that desired as would confirm he is panic mode already. If he does that we are in deep sh*t as the markets would be in control straight away. Surely even he isn't that stupid is he? Quote Link to comment Share on other sites More sharing options...
evictee Posted June 26, 2016 Share Posted June 26, 2016 Plan: ==== 1. Appear in utter disarray [check]2. Pound drops [in progress]3. Raise interest rates4. Announce second referendum5. Pound rises6. Lower interest rates7. Win referendum8. Lower interest rates9. Business as usual Quote Link to comment Share on other sites More sharing options...
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