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Brexit Bounce giving way to Corona Crippling, says agent


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Brexit Bounce giving way to Corona Crippling, says agent

One London agent reacted with dismay to the news - Marc von Grundherr, director of Benham and Reeves, said: “The Brexit market bounce expected this year will have to wait as it gives way to a Coronavirus crippling.”

He continues: “You’d be forgiven for anticipating the worst with property values already dropping in January, particularly given the fact we know what is to come as a result of the spread of Coronavirus. It’s certain we are going to see a notable reduction in market activity.”

https://www.estateagenttoday.co.uk/breaking-news/2020/3/market-brexit-bounce-giving-way-to-corona-crippling-says-agent

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Need to move sellers from Shock (never mind, I'll just hold on to it / Rent it out innit) to Panic (if I don't sell now, I'll have to drop another 20%!). 

 

Am seeing rental ads on facebook for stupid prices

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From same article, RICS seem to have their fingers jammed in their collective ears.

“Many, already fed-up with enforced confinement, are clearly hoping to move in the short rather than the longer term. If that is the case, we don’t expect prices to suffer too badly if the current shortage of listings continues and government assistance keeps as many in work as possible.'

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9 minutes ago, Confusion of VIs said:

Halifax has just pulled all mortgages over 60% LTV.

What does that say about which way they think prices are going?

down down deeper and down

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1 hour ago, msi said:

Am seeing rental ads on facebook for stupid prices

Am on the south coast. Several new rentals popped up on Facebook for eye-watering amounts. Available for two-month periods, fully furnished, looks straight out on the sea. Clearly marketed at people wanting to self-isolate their family outside of a city...

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1 hour ago, msi said:

Need to move sellers from Shock (never mind, I'll just hold on to it / Rent it out innit) to Panic (if I don't sell now, I'll have to drop another 20%!). 

 

Am seeing rental ads on facebook for stupid prices

I've noticed a large increase in rentals coming up on Openrent, the rents are stupidly high though. I wonder if it's landlords trying to replace Airbnb income

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3 hours ago, Confusion of VIs said:

Halifax has just pulled all mortgages over 60% LTV.

What does that say about which way they think prices are going?

don`t tell me they want the buyer to take 40% of the risk ? 

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5 hours ago, msi said:

Need to move sellers from Shock (never mind, I'll just hold on to it / Rent it out innit) to Panic (if I don't sell now, I'll have to drop another 20%!). 

 

Am seeing rental ads on facebook for stupid prices

Agreed. if EAs want to survive they need to tell their customers to cut asking prices massively NOW, not tomorrow.

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4 hours ago, Confusion of VIs said:

Halifax has just pulled all mortgages over 60% LTV.

What does that say about which way they think prices are going?

The moves in the banking sector are the main thing so far that has made me believe there could be a crash. You cant see the details of any mortgage products on the main bank's websites any more. Unless I'm missing something?

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2 minutes ago, Trump Invective said:

The moves in the banking sector are the main thing so far that has made me believe there could be a crash. You cant see the details of any mortgage products on the main bank's websites any more. Unless I'm missing something?

M&S do seem to have products at all LTVs.

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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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