Thursday, July 14, 2016

Don’t blame on the sunshine , moonlight, good times., blame it on…..

Brexit uncertainty hits residential activity

"Buyer enquiries fall for third consecutive month - lowest reading since mid-2008Agreed sales fall sharply with further drop expected in the short term12 month price expectations turn negative in London and East – but longer term forecasts remain positive" I commented before.. purple bricks ... easy estate agencies etc. The inverse indicator as companies come to market expecting the continuation of a prior trend.

Posted by techieman @ 05:38 AM (5087 views)
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7 thoughts on “Don’t blame on the sunshine , moonlight, good times., blame it on…..

  • The one thing the housing market hates is uncertainty and through the protracted process of Brexit we must be in for many months, if not years of uncertainty.

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  • >The one thing the housing market hates is uncertainty and through the protracted process of Brexit we must be in for many months, if not years of uncertainty.

    That’s an excellent point. The problem *is* that UK governments have been so stupid as to build so much national wealth depends upon housing; and that’s not to mention the solvency of all of the main banks and BSoc’s. They will therefore need to take immediate steps. They already have the tools [lower/neg] IR’s, QE and FLS – the latter being the real biggie. Under the current fiat system IR’s will probably never rise again – debt won’t allow it.

    By the way, yesterdays flood of mail brought more announcements the operators of my savings accounts that the rates of interest that they pay are dropping again.

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  • Sorry don’t NECESSARILY mean…

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  • Hi hpwatcher – I fear you are right, we have painted ourselves into a corner on this. There maybe a small possibility though that the new government could allow a certain amount of market correction and blame it on the Brexit that the people voted for. A correction is coming sooner or later and the 2020 elections may be just far enough away to allow it now and then start the recovery.

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  • I don’t think Brexit will be the breaking point, clearly the banks have been going on a surge lately to lend more money to customers and I am sure they be promoting the latest offers post interest rate reduction.

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  • Interesting. It is possible that availability falls faster than demand, so prices could rise under lower activity in that circumstance, which would suggest a false crash signal. Luxury apartments however are driven by the development pipeline, so it will be interesting to see how they and the unbelievable amount of commercial floorspace being constructed in the City pan out.

    Not many realise, that we have the following skyscrapers presently under construction:
    – 22 Bishopsgate, 62 stories
    – The Scalpel, 38 stories
    – 100 Bishopsgate, 36 stories
    – 70 St Mary Axe, 24 stories

    There are probably another 20 other towers of less heights going up. Including one of around 40 stories at The Shard and the 50 storey 1 Blackfriars Bridge. Obviously consent now for the 73 storey 1 Undershaft that will likely start work soon as there is a sign of economic boom.

    Will be interesting to see what happens, but if companies move in, these people will need a tremendous number of flats and houses.

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