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Benson55

Interesting topic from Money Week to look at

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https://moneyweek.com/the-weakest-link-in-the-uk-housing-market-right-now?utm_campaign=money-morning-newsletter&utm_medium=email&utm_source=newsletter

 

Certainly looks as if the measures put in place by the government may be having some effect, along with the fact that prices are too high anyway.

Having studied Rightmove and Zoopla for the last 3 years I can see a definite flattening and in some areas a lowering of the average prices for properties, and longer to sell in a lot of case under 300,000PDS that is where I look.

There are a few areas north and east where the average has declined, mainly though all over its flat except for retirement areas like Dorset, Cornwall and Devon. A look at Hull suprised me as to the number of reductions, Cleethorpes is down, Immingham is up, all these in a smallish catchment area. maybe indicates where the concentration of work is? Not sure.

Am waiting now for the decline in order to buy a retirement place in a couple of years, so study things carefully.

My projection is a recession in 18months, property prices to decline overall by 20% during it, unemployment rate to increase due to lower GDP and higher fuel costs, and massive debt bubble in most western countries. UK is not the only one with massive consumer debt issues, Canada is highest in world with smaller population, Australians living for the fun and their real estate has started to decline, US says its in a bubble, France and most EU countries in same way, Hong Kong is worried.

Looks like a recession all over again, not as bad as 2008/9 but certainly feeding its way into the equation, hence drop in all countries property prices. If you don't have to move then it don't matter what the value of your property is, as long as you have a job and can afford all the goodies bought by extracting the future from the equity. Seem it all before and it certainly is coming, then I buy my retirement house and live in peace.

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32 minutes ago, Locke said:

What on Earth makes you think that?

I presume because the banks have all our money now?

Previously it was a "crisis" because they cocked up.

This time it will be a classic get everyone in debt and take it all back + profit recession.

Surely they cannot just do the same thing again 😉

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4 hours ago, Locke said:

What on Earth makes you think that?

Common sense would dictate that - if UK alone is in recession wont be a great one.

If the whole world is then hello greater recession

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Anyone know what they're on about with their latest rash of emails promoting a forthcoming massive bankruptcy type situation of something big?  They try to get you to listen to or watch some presentation which going by the first (and last) time I watched one, goes on for ages before getting to the point and attempting to sell you some service.

 

 

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  • 333 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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