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Post-Post-Brexit House Price Bounce?

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I sense kite flying on Rightmove. Is it bouncing?

Agreed. Seen some items relisted at £5k to £10k up from pre-Brexit. Trying to cash-in on the lower BoE Interest Rate?

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I'm seeing the same obscene kite flying as pre-Brexit in the areas I am looking in (Leighton Buzzard, MK and surrounds).

It's definitely slower here in houses going "under offer" though. More so than an ordinary summer. In particular 4 bedroomed houses.

The pick of the properties are still going under offer. At what price I don't know. Will have to wait for LR to see if the sales go through.

Anything else is sitting there. There are some reductions but only to cut off a little froth from wildly ridiculous to just ridiculous.

The odd better priced property coming on the market but usually blighted for some reason or being re-launched after no sale. Properties are still coming back on the market, after not selling with a price increase, but less than usual.

The kite flying is usually in properties new to the market I think and probably the EA suggested a ridiculous price to get the instruction.

Edited by Flopsy

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so a .25 percent drop in BOE interest rates and the fools think 'happy days are here again' let's borrow more

It is insanity and I have to agree that a lot of sellers are now kite-flying for a higher price because they think Brexit (which has not yet happened) has had no effect. :o

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Definitely slowed down in my target 4 bed houses.

Same old story though bought in last year at Say 300/325 and now want near 400 for no good reason.

This is a point where things may change as before if I had theoretically enough money in the bank to buy a house cash at 400k I would have 12,000 less to spend unless I did not have another property so its max £388,000 now. The impact on a house deposit it even worse 10%+ more money.

Its really hard to find a nice rental here if you are a family so selling and then looking is not really a nice option.

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I am looking into selling in East Sussex to move to Devon or even Warwickshire (have friends there) and have noted new builds are being offered with stamp duty paid. Not a great deal of inventory to choose from which suggests builders may have slowed down in anticipation of BREXIT which has not resulted in the end of civilisation as we know it. Looks like the EU is suffering badly which may end up sending even more our way to boost demand and keep the ponzi going for awhile. Houses are clearly incredibly overvalued based on earnings but I am not seeing any signs of a crash.

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I am looking into selling in East Sussex to move to Devon or even Warwickshire (have friends there) and have noted new builds are being offered with stamp duty paid. Not a great deal of inventory to choose from which suggests builders may have slowed down in anticipation of BREXIT which has not resulted in the end of civilisation as we know it. Looks like the EU is suffering badly which may end up sending even more our way to boost demand and keep the ponzi going for awhile. Houses are clearly incredibly overvalued based on earnings but I am not seeing any signs of a crash.

My goodness, the posting legend that is RB is back.

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I am looking into selling in East Sussex to move to Devon or even Warwickshire (have friends there) and have noted new builds are being offered with stamp duty paid. Not a great deal of inventory to choose from which suggests builders may have slowed down in anticipation of BREXIT which has not resulted in the end of civilisation as we know it. Looks like the EU is suffering badly which may end up sending even more our way to boost demand and keep the ponzi going for awhile. Houses are clearly incredibly overvalued based on earnings but I am not seeing any signs of a crash.

I don't see a crash but certainly the last leg up could be retraced in my secondary area (NR13 as NR2 has gone loopy 350> 500).

300/325 no problem it sold.

375/400 not so easy so they cannot be upset if someone goes around and offers the same as the last sold price.

Just as the price was never 10% higher one cannot call it a 10% off situation.

for prices to go higher they need mortgage rates to go lower which the government is working on it seems.

At this time though the stamp duty for a number of buyers is higher ergo it's not as great as before April.

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On 8/22/2016 at 5:58 PM, Realistbear said:

I am looking into selling in East Sussex to move to Devon or even Warwickshire (have friends there) and have noted new builds are being offered with stamp duty paid. Not a great deal of inventory to choose from which suggests builders may have slowed down in anticipation of BREXIT which has not resulted in the end of civilisation as we know it. Looks like the EU is suffering badly which may end up sending even more our way to boost demand and keep the ponzi going for awhile. Houses are clearly incredibly overvalued based on earnings but I am not seeing any signs of a crash.

Has it fallen through?   Although perhaps I shouldn't be too hasty.  Sometimes RM listings do go back from Sold STC to back on market, even after sale.

Looks like the asking price has been hiked (a lot) during previous attempts to sell past 12+ months, into the forever HPI.

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And that overall asking price £150,000+ more than purchase price of just a few years ago (2011). 60% mad gainz at that price, if selling at that price, despite all the wider 'they don't know what they're doing' (media) posts for buyers of 2011 and before (and after).

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On 22/08/2016 at 4:59 PM, Fromage Frais said:

Definitely slowed down in my target 4 bed houses.

Same old story though bought in last year at Say 300/325 and now want near 400 for no good reason.

This is a point where things may change as before if I had theoretically enough money in the bank to buy a house cash at 400k I would have 12,000 less to spend unless I did not have another property so its max £388,000 now. The impact on a house deposit it even worse 10%+ more money.

Its really hard to find a nice rental here if you are a family so selling and then looking is not really a nice option.

I do notice that the ones wanting the most money are the ones who brought in last year or so .

Some still go SSTC so can only assume the those buying think they can also get those mad increases in a year .The last 3 years of  increases have priced me out now.

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4 hours ago, Nabby81 said:

I do notice that the ones wanting the most money are the ones who brought in last year or so .

Some still go SSTC so can only assume the those buying think they can also get those mad increases in a year .The last 3 years of  increases have priced me out now.

Yes since my post a couple of the houses i have viewed have gone SSTC near asking.

Shame as poor negotiation from the potential buyer as on in case I was at 50k out (10k less than same last sold) and could have closed at 20/15K off and they have gone in and offered just 5k under the asking and some 30k more than the last price sold on the street.

I just cannot bring myself to spend the money 

Edited by Fromage Frais

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