Friday, July 1, 2016

Post Brexit strategies

Post-Brexit property planning: should you buy, sell or stick?

Short term = price falls the ''experts'' predict

Posted by tom101 @ 02:34 PM (7269 views)
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6 thoughts on “Post Brexit strategies

  • There is an article in the standard….. HPC tells me its been posted already …. I must be missing something!

    http://www.standard.co.uk/news/london/london-house-prices-slashed-after-brexit-vote-a3285731.html

    “How prices have plunged

    Buckland Crescent, Belsize Park, NW3

    The three-bedroom first floor apartment in a “beautiful period property” is a short walk from Swiss Cottage Tube station. Went on the market last May at £1.5 million. Price cut to £1.05 million last Friday.

    Commercial Street, Whitechapel, E1

    Two-bedroom flat is in a new development at 1 Commercial Street. It has fitted wardrobes and under-floor heating. First listed at £1.1 million in January. Price cut to £720,000 last Friday.”

    Don’t worry though – will never get along the overground line!

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  • Expect turbulence in London where the prices are already overinflated and just reducing their over inflated prices, meanwhile in the rest of the UK the carousel keeps on turning.

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  • We just had a valuation where a Surveyor claimed that the vote reduced the value of our home by £80k, yet there is no evidence yet of any impact. If surveyors across the land take this approach, it will have the opposite effect because people will stay put, reducing the available homes, causing prices to increase through artificially reduced supply.

    No doubt this will start feeding through, particularly when rates get cut!!

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  • novice pete says:

    ‘artificially reduced supply’, just give me credit man! I just need more credit, then I can afford the artificially induced house price on steroids.
    Yeah man, give me credit so I can afford that sh*t.

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  • Libby… prices are determined at the margins. A few weeks ago you were going on about your place being worth x more than you bought it for and that valuation was of course “correct” . Now the current valuation is “wrong” because reason a to z….

    Its a bit like saying ftse is “right” at 5750 and “wrong” a few days later at 6500. The market is always right – however much you – or I for that matter – want to argue it isn’t.

    The current dichotomy of the ftse and London property is interesting in terms of the resolution. Perhaps the ft250 is a better bedfellow.

    In terms of share markets fair play to you calling a move back up. Will this breach resistance ? Next week we will find out if the market will hold at these levels, march to new highs or that this was merely a or the final suck in.

    As for the London property market , most people would concede that it is / was a “bubble in search of a pin” … was Brexit the pin ? You can argue “the fundamentals” all you like but – as I have said many times they are always wrong at market (whichever market) turns.

    Once markets turn the fundamentals “catch up”. This is already being touted in the article regarding “oversupply” of high end homes.

    Are we at such a point.. well the jury is likely still out . Like any market it’s how the move back up manifests after a fall. Interesting times !

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  • @3 …Surveyors downvalue …so buyers have difficulty getting their required mortgage …which causes the sale to fall through … so vendors decide not to move house after all …which causes a shortage of property available for sale …which causes prices to rise? I’m not sure I follow that logic! If readily available finance contributed to the property boom, won’t tightening of lending have the opposite effect!

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