Houses are too expensive for people to buy them

[DimPrawn]

Due to Brexit.

[Whorty]

Due to Brexit.

There was an interesting report the other week (can't be @rsed to find it now) that basically said housing, both renting and buying, is more affordable now in real terms than in 2008. It also said most lending went to younger buyers, which is probably not a surprise but blows the myth that younger buyers can't afford to get a mortgage.

Brexit is definitely holding the market back. If only the MPs could sign off a deal we could all move on together, in a warm and cuddly friendly way

[scooterscot]

Brexit is not holding the market back. Sold my Edinburgh place recently because:

1) it was yielding less (mostly through increased expenses). Remember why half of you have BTL's, cause pensions are crap. That's about to change.

2) Local council bureaucracy reaching new levels that make a German tax return look like a Ladybird book publication. In seriousness though it's destroying businesses.

3) Someone was willing to pay near £0.5m for a 2-bed flat. It is a bubble of epic proportions. The market is an epic bubble.


Sit back and watch the market go flat. I'll be waiting...

[Whorty]

Brexit is not holding the market back. Sold my Edinburgh place recently because:

Brexit is holding the market back, but that doesn't mean nothing is selling. Property priced correctly, or in very desirable areas, will still sell. We just don't have the panic buying of any old cr@p that we have when the market is going through the roof.

Market most likely to stabilise now for a few years. Can't see a big adjustment down (pity) but equally can't see big increases either. London has been pretty stagnant now for a couple of years with prices in some areas dropping. Where I'm based in the SW property prices are still moving forward, albeit at a slow pace.

Signing off May's deal will give people confidence again, and the house market is built on confidence.

[Mordac]

Brexit is not holding the market back. Sold my Edinburgh place recently because:

1) it was yielding less (mostly through increased expenses). Remember why half of you have BTL's, cause pensions are crap. That's about to change.

Pensions are still crap. BTL is no longer an option though, I agree. I presume, like you, that all BTL'ers are either selling up or seriously thinking about it.

[siphr]

Regardless or what is happening with Brexit. For my area, I think the property market is unaffected. People are going about their business and nobody is too fussed.

[stonehenge]

Bitcoin is the way to go.

[MattZani]

3) Someone was willing to pay near £0.5m for a 2-bed flat.

Let me guess....New Town/Stockbridge?

[scooterscot]

Let me guess....New Town/Stockbridge?

West End. In the last 12 months alone the flat went up almost 10%. Think I timed the exit to a tea. Time will tell.

https://espc.com/media/5606/mth-201902-table.pdf

[scooterscot]

Pensions are still crap. BTL is no longer an option though, I agree. I presume, like you, that all BTL'ers are either selling up or seriously thinking about it.

BTL assets are overvalued with yields shrinking. The political situation is the cherry on the cake.