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House Prices After Brexit
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Every day for the last week i have read conflicting articles about what is going to happen to house prices now we've left the eu. what is your option about it? if you were planing to buy or sell, have the current events changed your mind?
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People always put in a lower offer unless they are convinced the pace will sell anyway. My weakness is that I never feel I can offer the large reduction others seem to be able to and get accepted. Was always glad I was born in a country where most prices are set by a retailer and most folk accept them or go elsewhere.
PP, we don't need the EU directive.
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Buenchico
Whatever the issues, the problem with making decisions about how 'Brexit' will affect them is that we don't yet know which type of Brexit we'll end up with.
If it turns out to 'hard Brexit' then the UK will leave BOTH the European Union AND the European Economic Area. That will satisfy those who want to get rid of the 'free movement of citizens' which currently exists across the EEA but (because we'll also lose the right to unrestricted trade within the EEA) will potentially lead to massive job losses (with perhaps 5 to 8 million people unemployed) and the near-collapse of the UK economy. Under such circumstances house prices might fall dramatically (by perhaps as much as 50%).// Can I deduce from your answer Chris that we made the wrong decision in the referendum ? After all,the reason most folks voted Brexit was the open borders policy which allows unlimited immigration which is a policy that is bound to fail at some point due to the sheer scale of numbers. Why is it so probable that the scale of unemployment will rise so dramatically if we sever all ties with the EU ? I can well remember full employment in the UK long before the EU was thought of.
Buenchico
Whatever the issues, the problem with making decisions about how 'Brexit' will affect them is that we don't yet know which type of Brexit we'll end up with.
If it turns out to 'hard Brexit' then the UK will leave BOTH the European Union AND the European Economic Area. That will satisfy those who want to get rid of the 'free movement of citizens' which currently exists across the EEA but (because we'll also lose the right to unrestricted trade within the EEA) will potentially lead to massive job losses (with perhaps 5 to 8 million people unemployed) and the near-collapse of the UK economy. Under such circumstances house prices might fall dramatically (by perhaps as much as 50%).// Can I deduce from your answer Chris that we made the wrong decision in the referendum ? After all,the reason most folks voted Brexit was the open borders policy which allows unlimited immigration which is a policy that is bound to fail at some point due to the sheer scale of numbers. Why is it so probable that the scale of unemployment will rise so dramatically if we sever all ties with the EU ? I can well remember full employment in the UK long before the EU was thought of.
my thoughts are with you 237sj, may she rip.
@talbot, sorry what latest news are you referring to? could you post a link to it please
@baldric - 7!? wow, that's impressive. Are you worried that if the house prices fall substantially your tenants may be able to afford to buy and subsequently leave. Leaving you at best with new tenant finding fees to pay , ot at worse empty properties
Why are so many people hating on chris's answer? it makes so much sense to me. We can't predict what will happen to house prices until we know what the situation regarding freedom of movement is. which will directly effect people's job, which will the directly effect weather they can buy, then it comes down to the whole supply and demand theory. am i missing something or not getting something?
@talbot, sorry what latest news are you referring to? could you post a link to it please
@baldric - 7!? wow, that's impressive. Are you worried that if the house prices fall substantially your tenants may be able to afford to buy and subsequently leave. Leaving you at best with new tenant finding fees to pay , ot at worse empty properties
Why are so many people hating on chris's answer? it makes so much sense to me. We can't predict what will happen to house prices until we know what the situation regarding freedom of movement is. which will directly effect people's job, which will the directly effect weather they can buy, then it comes down to the whole supply and demand theory. am i missing something or not getting something?
Not a case of hating his answer, it's a case of not believing the predictions of massive job losses, and near-collapse of the UK economy.
It mirrors the fear spreading tactic of the 'remain' groups' pre-referendum, and are only likely to be anticipated by those who realise that they would only be vindicated it the fear stories, somehow, turned out to be true. But whilst we do not know the future, we do know that there is a whole world out there wanting to trade with us; so short term panics by investors aside I believe it unlikely there will be and large noticeable issues.
There hasn't been that much so far. despite the predictions of gloom, and even many 'leave' supporters expected the short term "cost" to be higher than it is proving to be.
It mirrors the fear spreading tactic of the 'remain' groups' pre-referendum, and are only likely to be anticipated by those who realise that they would only be vindicated it the fear stories, somehow, turned out to be true. But whilst we do not know the future, we do know that there is a whole world out there wanting to trade with us; so short term panics by investors aside I believe it unlikely there will be and large noticeable issues.
There hasn't been that much so far. despite the predictions of gloom, and even many 'leave' supporters expected the short term "cost" to be higher than it is proving to be.
@ old gezer - i think he did raise a good point that we need to know what type of exit we are going to have.
However, i think you are right about house prices not dipping too much, and it all being a big case of scaremongering. i'm not sure about the rest of england but i know houses prices have stayed the same in chelmsford, which i'm so thankful for as i'm hoping to sell very soon
However, i think you are right about house prices not dipping too much, and it all being a big case of scaremongering. i'm not sure about the rest of england but i know houses prices have stayed the same in chelmsford, which i'm so thankful for as i'm hoping to sell very soon
