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Game Changer - Brexit-- House Prices --Merged

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The People have spoken and there is no doubt that the Banks have eaten us and themselves.

Are we looking at the catastrophic falls in house prices as predicted, or is this merely a threat by Project Fear. The Pound is taking a hammering, markets are plunging worldwide and Gold shoots up by 4%. Talk of BOE cutting interest rates to save the pound.

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Cut rate to what??? Bonkers!

House prices will fall, banks will have to relocate to Amsterdam, Dublin or Frankfurt. Canary Wharf will be inhabited by cats! :lol::lol:

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Cut rate to what??? Bonkers!

House prices will fall, banks will have to relocate to Amsterdam, Dublin or Frankfurt. Canary Wharf will be inhabited by cats! :lol::lol:

Yes, normally you raise rates to encourage people to take toilet paper....ahem....currency, don't you?

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Exactly. No levers left to pull. No plan, no action, totally F£&*(^. I am looking forward to winding up some estate agents with ridiculous offers. "But House prices are lower now because of Brexit!"

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OK - early predictions.

1. Pound continues to dive. BoE has to raise interest rates to protect purchasing power. 3 or 4%.

2. Banks in city cut jobs, UK and EU recession.

3. HPC

4. Deeper recession

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At least in 2008 there was room to maneuver. This is catastrophic. Own goal for many today. Not us, however lol!

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>>Finally I'll be able to start my BTL empire.

Deft, 1 house will do I ain't picky.

:D

Self build only ...

55m ago 08:07 Housebuilders plunge by 40% It’s an absolute rout! The FTSE 100 has shed 527 points, or over 8%, in a massive selloff..

.. Some shares have lost a third of their value. Housebuilders Taylor Wimpey and Persimmon have plunged by 40% And some shares have still not opened....

https://www.theguardian.com/business/live/2016/jun/24/global-markets-ftse-pound-uk-leave-eu-brexit-live-updates?page=with:block-576cdbd6e4b0be24d34f5cbc#block-576cdbd6e4b0be24d34f5cbc

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The downward movement of share prices in house builders and banks is indicative of forthcoming falls in house prices in England and Wales although this may be at least mid rather than short term. Carney's inaction this morning will have done nothing to support confidence really and hints of things to come.

The split in Northern Ireland does not bode well for prices over there. As for Scotland, well we may need a passport to go there soon.

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Carney's inaction this morning will have done nothing to support confidence really and hints of things to come.

...... As for Scotland, well we may need a passport to go there soon.

Since you posted he has spoken: £250 billion of "liquidity" is being made available to banks.....

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It's hard to know what longer term effect there will be, but it's quite clear anybody borrowing insane amounts of money in the short term treasuries market (i.e. banks .. house builders .. overprivildged morons) but who has income in sterling will be royally f*****d like they should have been 8 years ago.

The funniest bit about it is that Carney can't do anything because a policy of 100% can kicking and political expediency has produced levels of leverage in the UK that are mind bogglingly unable to cope with interest rate rises and probably unable to cope with large currency moves like that. Of course .. this was entirely predictable and easily solved with only a snifter of house price drops so I have no sympathy and just want to see the piggy squeal like piggies should.

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House prices in the UK just got a lot more expensive valued in sterling.

Zero concern to people earning £ planning to buy a house in £.

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Uncertainly in the markets will inevitably lead to a fall in prices, people less sure about their job prospects, hopefully less immigration over the years so less demand, this is one of the best things that can happen to house prices in a generation and a great opportunity for change all round.

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I said the same thing on another thread, I was up all night and when it was certain at 6am of a Brexit I just went to bed over whelmed and joyful and left it at that. There are just far too many permutations for my head to cope with so I just laccepted the fact that HPC is now on the cards and relish in that.

I would have stayed up but when the Sunderland result came in on the heels of Newcastle, it was obvious that the pollsters had failed to account for the 'guilty brexiter' factor .....

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