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Talking to my uncle last night - a friend of his did up a place in a little town in Devon.

Put it on the market for £190K. No sale in months. Next door (same house) ended up reducing to £135K to get a sale! The man spent £170K buying and renovating and it's only worth £135K max.

Different areas - different picture but it's simple. Prices are too high and WILL come down.

Interetingly, had a big chat with my uncle about house prices and he was very interested in what I had to say. He agreed completely that the UK housing market is very likely to fall, he kind of had a feeling things aren't right, prices are too high but was interested to hear what might cause the crash. Inflation, unemployment and interest rates I told him were the key but don't expect either of those three to be lower in 2-3 years time.

Good to know that there are other mainstream believers out there. :)

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Yep, similar experience here. House down my road was up for £137k. Not a bad price for my area, middle terrace but nice, 3 beds, v close to centre etc. I expected it to be snapped up at that price but it sat on the market for 3 months. Was recently reduced to £127k and has finally sold. Still too much in my opinion for a modest terrace, but shows that prices are heading in the right direction.

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UK is simply too expensive to live in now. You look at the average salary anywhere in the country and, HPs aside, all the various taxes, charges, etc, make it a very expensive place to live. Add ridiculous HPs into the equation and I cannot see how people manage.

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  • 301 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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