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Property market will melt down without stamp duty extension, Sunak warned


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Property market will melt down without stamp duty extension, Sunak warned

https://www.telegraph.co.uk/property/uk/property-market-will-melt-without-stamp-duty-extension-sunak/

 

Prophet Spencer:

Quote

Phil Spencer, the TV property expert, said: “There is a big tsunami of deals building up. If the Chancellor really does stop the stamp duty holiday I just think chaos will ensue.

“People will try and renegotiate up and down chains, and it only takes one person in the chain for four or five sales to fall through. The whole thing will come to a crashing halt and deals will fall off the shelf left, right, and centre."

 

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1 hour ago, Notting Hell said:

Property market will melt down without stamp duty extension, Sunak warned

https://www.telegraph.co.uk/property/uk/property-market-will-melt-without-stamp-duty-extension-sunak/

 

Prophet Spencer:

 

Property market will melt down without stamp duty extension, Sunak warned BY PEOPLE UP TO THEIR NECKS IN LEVERED UP MORTGAGE DEBT

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1 hour ago, Notting Hell said:

“People will try and renegotiate up and down chains, and it only takes one person in the chain for four or five sales to fall through. The whole thing will come to a crashing halt and deals will fall off the shelf left, right, and centre."

Just though of a great reality TV programme. Have all families in the chain dropped into a Hunger Games style arena, last family standing get all the houses in the chain. Hosted by Phil and Krusty of course, could call it "Chain of Fools - Live"

Just off to give Ch4 a shout.

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1 hour ago, Notting Hell said:

Property market will melt down without stamp duty extension, Sunak warned

https://www.telegraph.co.uk/property/uk/property-market-will-melt-without-stamp-duty-extension-sunak/

 

Prophet Spencer:

 

This property expert? Lol

Television property expert Phil Spencer's company owed more than £500,000 when it went into administration.

Papers signed by the Location, Location, Location star reveal the full extent of his company's financial turmoil.

When it folded in February Garrington Home Finders owed creditors £576,052.

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1 hour ago, Smiley George said:

Just though of a great reality TV programme. Have all families in the chain dropped into a Hunger Games style arena, last family standing get all the houses in the chain. Hosted by Phil and Krusty of course, could call it "Chain of Fools - Live"

Just off to give Ch4 a shout.

Fleetwood Mac would get a boost from the obvious theme tune too. 

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3 hours ago, Notting Hell said:

Property market will melt down without stamp duty extension, Sunak warned

https://www.telegraph.co.uk/property/uk/property-market-will-melt-without-stamp-duty-extension-sunak/

Phil Spencer, the TV property expert, said: “The whole thing will come to a crashing halt and deals will fall off the shelf left, right, and centre."

They will just have to make new deals then, won't they? :rolleyes: (hopefully with discounted prices for all buyers concerned).

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3 hours ago, Pimp My Pants said:

This property expert? Lol

Television property expert Phil Spencer's company owed more than £500,000 when it went into administration.

Papers signed by the Location, Location, Location star reveal the full extent of his company's financial turmoil.

When it folded in February Garrington Home Finders owed creditors £576,052.

How can a tin pot "home-finder" outfit rack up over half million in debt?.

Where did the money go?

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5 hours ago, Notting Hell said:

Property market will melt down without stamp duty extension, Sunak warned

https://www.telegraph.co.uk/property/uk/property-market-will-melt-without-stamp-duty-extension-sunak/

 

Prophet Spencer:

 

No it wont. 

People will just stay put. Transacitons will collapse. Economy will suffer.

There may be the odd cash bargain for the 3D's

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12 hours ago, Rachel88 said:

Phil and kirsty have help fuel these house prices.

I hope rishi doesn't extend it but I fear he will. 

It was just a hobby  to them, ramping up house prices. Telling dipsticks to  put a cheeky £20K extra on the price to make sure they got to buy it.  I'm sure they hived off their share when the going was good.

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14 minutes ago, gerkin said:

Sometimes I feel like the entire country runs on just buying and selling houses. People who cannot get a decent job or save 2 pennies are buying houses at all costs so they can get on this ‘ladder’ that only goes up.

The housing market is the economy.

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14 minutes ago, gerkin said:

Sometimes I feel like the entire country runs on just buying and selling houses. People who cannot get a decent job or save 2 pennies are buying houses at all costs so they can get on this ‘ladder’ that only goes up.

I agree, people buying houses at any cost and having low pension pots. Equity release.? its growing

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