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I sold in May purely to gamble on a HPC. I am risking a lot on this but reasonably confident we will see 5-10% falls by winter. If panic sets in, then maybe more. I am looking to buy cash so I am hoping to get a good deal and snag a forever home. Nothing fancy, just somewhere for my family to live, debt free.

I will be buying next year regardless. Gambling against rising house prices has always been a risky move so I am nervous, main reason being the government and what they might do to prop up prices. Sentiment on here seems to be "they can't stop it" but who could have predicted something as brazen as HTB? I would never in a million years have expected a government to print money and directly feed it into the housing market, but here we are...

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10 minutes ago, qejunkie said:

Any tips? FWIW I'm looking for reasons not to exchange this week on agreed sale from Boris bounce Feb price?

If I was you I would sell and rent, if possible. But that's just me. I'm very confident that while massive drops may never happen, the "boris bounce" prices are the last top we will see for at least a year or two.

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25 minutes ago, qejunkie said:

Any tips? FWIW I'm looking for reasons not to exchange this week on agreed sale from Boris bounce Feb price?

Tips , like what?

If you have a firm buyer then sell get into a rental put your feet up buy some popcorn.....................

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I STR’ed 12 years ago, and still rent.  Simply it suited me,  and the financials have continued to go in the right direction.  I will buy early next year probably.

 The one bit of advice I’d offer is don’t presume you will only be in the rental for 6 months, or so.  I haven’t been - but it’s “nice”area, that didn’t impose a “time limit” on my patience.  I have been lucky by accident.

 

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1 minute ago, Patfig said:

Kernow

Never heard of it, let me google, wow it is real place., did you intend to upsize/downsize or are you after the same amount of space, London seems to be crashing, a friend works for TM Lewin and told me most of his sales are/were tourists and without that inflow of capital prices will have to retrench to are related number.

I do think you have called it right, How much did you sell for and what is your budget to buy.

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Just now, shlomo said:

Never heard of it, let me google, wow it is real place., did you intend to upsize/downsize or are you after the same amount of space, London seems to be crashing, a friend works for TM Lewin and told me most of his sales are/were tourists and without that inflow of capital prices will have to retrench to are related number.

I do think you have called it right, How much did you sell for and what is your budget to buy.

Just gonna sit and wait now, may even skip the UK to be honest depending on how far down the rabbit hole we go.

 

Looking to buy sub100K whenever or where ever that may be.

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1 minute ago, Patfig said:

Just gonna sit and wait now, may even skip the UK to be honest depending on how far down the rabbit hole we go.

 

Looking to buy sub100K whenever or where ever that may be.

I always thought Cornwall was very expensive compared to earnings, as i imagined you get a lot of people who want to retire moving their.

How have prices moved since you sold

I cannot imagine you could pick much up for £100k  or even less

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16 minutes ago, “Nasty Piece of work” said:

I STR’ed 12 years ago, and still rent.  Simply it suited me,  and the financials have continued to go in the right direction.  I will buy early next year probably.

 The one bit of advice I’d offer is don’t presume you will only be in the rental for 6 months, or so.  I haven’t been - but it’s “nice”area, that didn’t impose a “time limit” on my patience.  I have been lucky by accident.

 

Also don't presume that you will get the place you want because have nothing to sell and moved to rent in an area where looking to buy....EA love putting a local chain together thus making commission on more than just the one property.;)

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1 minute ago, shlomo said:

I always thought Cornwall was very expensive compared to earnings, as i imagined you get a lot of people who want to retire moving their.

How have prices moved since you sold

I cannot imagine you could pick much up for £100k  or even less

Prices are starting to come down in rural Cornwall not sure about the coastal areas. 

 

 

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9 minutes ago, Patfig said:

Prices are starting to come down in rural Cornwall not sure about the coastal areas. 

 

 

Yes anything could happen on the coast short term but they'll be a few morons still piling in now and then when the plates stop spinning it'll bit hard. I can imagine rural Cornwall has already stalled. 

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1 hour ago, lewat said:

If I was you I would sell and rent, if possible. But that's just me. I'm very confident that while massive drops may never happen, the "boris bounce" prices are the last top we will see for at least a year or two.

Yeah that's my thesis. Not really trying to make a heroic call or anything. Just circumstance and have a good deal on the table. Surely I'll find something decent within a year or so. 

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18 minutes ago, winkie said:

Also don't presume that you will get the place you want because have nothing to sell and moved to rent in an area where looking to buy....EA love putting a local chain together thus making commission on more than just the one property.;)

Luckily where I am the market is totally illiquid. So the chance of local chains is basically impossible. But I can imagine in some places that goes on. 

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39 minutes ago, “Nasty Piece of work” said:

I STR’ed 12 years ago, and still rent.  Simply it suited me,  and the financials have continued to go in the right direction.  I will buy early next year probably.

 The one bit of advice I’d offer is don’t presume you will only be in the rental for 6 months, or so.  I haven’t been - but it’s “nice”area, that didn’t impose a “time limit” on my patience.  I have been lucky by accident.

 

 

Yeah that sounds like good advice. 

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1 hour ago, Patfig said:

Just gonna sit and wait now, may even skip the UK to be honest depending on how far down the rabbit hole we go.

 

Looking to buy sub100K whenever or where ever that may be.

The problem is, that was moved on too. Global low interest rates have worked the "magic". Property in every European country is up over the last 10 years since the financial crash. Even Portugal, which was hit extremely hard, is now pretty expensive in the decent areas.

We want to move to France (not immediately) and we're watching as property is going up there yearly. Painful.

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3 minutes ago, dugsbody said:

The problem is, that was moved on too. Global low interest rates have worked the "magic". Property in every European country is up over the last 10 years since the financial crash. Even Portugal, which was hit extremely hard, is now pretty expensive in the decent areas.

We want to move to France (not immediately) and we're watching as property is going up there yearly. Painful.

patience is a virtue

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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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