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RP.Doire

Cornona Effects on House Prices

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9 hours ago, 2buyornot2buy said:

Property Pal reckons we can expect a 3-5% fall short term followed by "strong rebound"... expected from a vested interest business where earnings will have been destroyed.

Things must be bad when PropertyPal are actually telling people that there's going to be a fall.

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I think everyone is hoping the impact is not too bad.  I am seeing a Good number of people employed in travel, aircraft manufacture, recruitment etc getting sacked with no furlough.  Another factor is the banks looking for big deposits. Also despite the hype a lot of self employed were left high and dry.  It just a case of how low prices go. Im thinking 20 percent in NI is realistic.  

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On 04/04/2020 at 19:41, JoeDavola said:

2012/2013 was the bottom.

I can't remember whether most of the falls happened in the first couple of years after the peak however - does anyone here with a better memory than me remember?

I was looking at propertypals Area Price Tracker - https://www.propertypal.com/price-tracker

It is interesting to see which areas had 'dead cat' bounces, when the low was reached and which areas were recovering. The graph below that also shows transaction levels.

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Corona will have zero affect on prices, it wont last long enough.

However if Corona causes a massive recession due to zillions of small business going to the wall - THAT will cause prices to fall.

Currently looking more likely in the USA than here thanks to their non-existent safety net.

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3 hours ago, Habeas Domus said:

Corona will have zero affect on prices, it wont last long enough.

However if Corona causes a massive recession due to zillions of small business going to the wall - THAT will cause prices to fall.

You are contradicting yourself.

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My parents are both in their 70s. I'd imagine, like most retired people, they like to travel and eat out. They are missing cafes and restaurants, but are adjusting. When the lockdown ends, they have no intention of going near cafes and restaurants until it is safe to do so. Think of all the garden centres, furniture stores and supermarkets that also have cafes. My wife and I often comment when we eat in these places that we bring the average age down. And, we are not young! My parents also enjoy taking advantage of hotel mid-week breaks. SKI-ing they call it - Spending the Kids Inheritance. They won't be SKI-ing until it is 100% safe to do so. Ending the lockdown will not end the fear. Until the fear is ended the economy has no chance of returning to normal.

Government support is going to last for 3 months? Then what? Will people still fear for their jobs? Fear means people will hoard money - not spend it. In my opinion, there is no chance the economy is going to rebound from this quickly.

Edited by Belfast Boy

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  • 343 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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