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Coronavirus: Rightmove warns UK property market facing sharp slowdown


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1 hour ago, stop_the_craziness said:

I'm trying not to get my hopes up.  A sharp slowdown is not a crash (yet) and as someone else pointed out on here, the monetary measures that are being taken to "help" this crisis could actually have the opposite effect in the long term and create the next wave of HPI (please no!)

This is only a concern if you hold your deposit fund in sterling. We will have the largest HPC in history in real terms.

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16 minutes ago, Smiley George said:

How many days is it since they were heralding the latest RM Index price rises hitting triumphant new highs??

And now it's all "poor me"......these c**ts deserve everything coming to them.

I contacted the MSM regarding the @UKPropertyLion falls.

It seems an index based on rightmoves CURRENT asking price is scorned in favour of an more easily manipulated one based on INITIAL asking price.

I'd not trust much I read now on the housing market, it's turned into a state control mechanism

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9 minutes ago, 50sQuiff said:

This is only a concern if you hold your deposit fund in sterling. We will have the largest HPC in history in real terms.

It is.   I am a massive chicken.  50% in premium bonds and the other 50% Cash Isa

I know, I know.  I've always been too scared to do anything else.

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"Rightmove warned of a “sudden challenge” for estate and letting agents, and said the government’s recent announcement of new protections for renters could exacerbate their troubles."

 

Yeah, renters. Always the bane of the property sector.

Cant live with them, cant live without them.

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2 hours ago, TheCountOfNowhere said:

I contacted the MSM regarding the @UKPropertyLion falls.

It seems an index based on rightmoves CURRENT asking price is scorned in favour of an more easily manipulated one based on INITIAL asking price.

I'd not trust much I read now on the housing market, it's turned into a state control mechanism

Why am I not surprised.

What are the current PropertyLion numbers compared to RM?

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25 minutes ago, mattyboy1973 said:

I think the government would do almost anything within its power - if not more - to stop a housing market crash this year given everything else that's going on. Then again, maybe it can't.

Basically

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3 hours ago, 50sQuiff said:

This is only a concern if you hold your deposit fund in sterling. We will have the largest HPC in history in real terms.

I, a patient midlands FTB, have a 50k deposit standing by. Most of that is in a stocks and shares ISA, which I moved into cash holdings a few weeks ago before everything went into freefall. Presuming that I am wary of the money taps being opened or helicopter money, what would be the best next step? Get back into stocks and shares?

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13 minutes ago, are said:

I, a patient midlands FTB, have a 50k deposit standing by. Most of that is in a stocks and shares ISA, which I moved into cash holdings a few weeks ago before everything went into freefall. Presuming that I am wary of the money taps being opened or helicopter money, what would be the best next step? Get back into stocks and shares?

Buy a house? I would imagine a 50k deposit and a 4.5 times income multiple in the Midlands would get you a pretty nice pad. Even if it does all crash, there's more to life and everyone needs a roof over their head!

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7 hours ago, TheCountOfNowhere said:

Coronavirus: Rightmove warns UK property market facing sharp slowdown

 

https://uk.finance.yahoo.com/news/uk-property-coronavirus-house-prices-what-impact-buy-sell-home-101132215.html

I timed my return rather well.

Bummer for anyone who bought recently. Wasn’t there someone asking if he should complete on a flat in clapham last year?

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On 20/03/2020 at 16:44, are said:

I, a patient midlands FTB, have a 50k deposit standing by. Most of that is in a stocks and shares ISA, which I moved into cash holdings a few weeks ago before everything went into freefall. Presuming that I am wary of the money taps being opened or helicopter money, what would be the best next step? Get back into stocks and shares?

Put in shares. Wait 20 years. Bang goes theory.

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On 20/03/2020 at 16:18, mattyboy1973 said:

I think the government would do almost anything within its power - if not more - to stop a housing market crash this year given everything else that's going on. Then again, maybe it can't.

The realisation that the housing market could not be saved this time might be about to coincide with acceptance that the cause of its demise was an external event outside the control of government and one that could therefore not be blamed on government.

Therefore an ideal chance to get off the property mania escalator and build a more realistic and sustainable economy.

The chances of bailing out employees, the self employed, the unemployed,  airlines, construction, and just about everyone else while having anything left over for housing look slim to me.

During the mid nineties Ken Clarke, the then chancellor ruled out attempting to revive the housing market which he said would not recover for a generation. He reckoned without Gordon Brown though.

 

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On 20/03/2020 at 12:47, GettingBored said:

Property Log usage has dropped about 30% in the last week or so, clearly not as many people looking...

No point you cannot view houses or progress a sale. Everything will be frozen until at least the autumn, what happens then who knows.   

 

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1 hour ago, Bluestone59 said:

The realisation that the housing market could not be saved this time might be about to coincide with acceptance that the cause of its demise was an external event outside the control of government and one that could therefore not be blamed on government.

Therefore an ideal chance to get off the property mania escalator and build a more realistic and sustainable economy.

The chances of bailing out employees, the self employed, the unemployed,  airlines, construction, and just about everyone else while having anything left over for housing look slim to me.

During the mid nineties Ken Clarke, the then chancellor ruled out attempting to revive the housing market which he said would not recover for a generation. He reckoned without Gordon Brown though.

 

I suspect the thinking will be that so many things have gone t1ts up we cannot possible let the housing market go down as well. 

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  • 417 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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