Anyone buying/selling a house right now?

[d000hg]

Lets put it this way, the outlook for the housing market is pretty dire it's not got to get any better unless someone turns up and reverses Brexit.

Overall - maybe, though even then with more selective immigration that just means the people coming here are richer! More regionally, the areas suffering greatest immigration pressure may have problems but on the other hand tourist areas might boom as more Brits holiday in the UK. London prices might crash but London is not the UK.

Having an empty property which belonged to your parents is nothing but a millstone round your neck IMO.

This is my main feeling. We could run it as a holiday let but it's not a passion we have and we'd be better buying something more suited for that role if we changed our minds. Sentimentality is a factor but probably not enough of one when you have so much value tied up!

[woohoo]

same,

bought first home in Nov 2007 crashed ensued a few months later

just bought next home in a few weeks ago . . . market will probably crash by the time we move in

but hey ho

yep that's how I feel, though we are still looking to find a house.

[ChimpMaster]

Overall - maybe, though even then with more selective immigration that just means the people coming here are richer! More regionally, the areas suffering greatest immigration pressure may have problems but on the other hand tourist areas might boom as more Brits holiday in the UK. London prices might crash but London is not the UK.

This is my main feeling. We could run it as a holiday let but it's not a passion we have and we'd be better buying something more suited for that role if we changed our minds. Sentimentality is a factor but probably not enough of one when you have so much value tied up!

Which part of the country is the house in?

[barrydidit]

Side-note: anyone have any tips on getting insurance for a dead person's house? I guess you just have to get more expensive unoccupied property insurance?

I believe Zeity knows about this. And has a workaround.

[d000hg]

Which part of the country is the house in?

Cornwall.

[SantaClaus]

Interesting article:

Singapore bank halts lending for London properties over Brexit vote

Singapore bank halts lending for London properties over Brexit vote | Business | The Guardian

[darmstadt]

Just bought Peckham and putting a bid in for Leeds

[GB9]

Leeds has gone already.

Rang up early evening to book a viewing to be told sale agreed today.

It has just changed agents and had 10% knocked off asking, but that's the third one this week that we were watching.

No housing market implosion yet. Another scare story not happening.

[CretinWatcher]

Just put our main house on the market today as Step 1 on the way to leaving.

[jamesbrown]

Experience suggests that a deterioration in sentiment alone produces a relatively shallow and temporary pullback, so I'd expect to see some softening in demand and, to a lesser extent, prices in the short-term (1-6 months), but nothing major. Beyond that, it's going to depend how the Brexit effect feeds into the real economy (credit supply, business investment, jobs etc.), but if the advance indicators, such as the PMIs, start heading south in a major way, you can expect a more severe and prolonged pullback. Valuations in the SE are primed for a significant correction if the real economy (jobs, wages) begin to deteriorate sharply. Bottom line, it's very difficult to tell, but the outlook isn't good, and I wouldn't be buying in the SE for a year or so if the decision were purely or largely financial (often it isn't, of course).