The Official UK house prices DOOM thread

[TheGreenBastard]

Commercial property and my contracting and business interests these days are in this sector.
Residential interests are limited to homes I live in.

The sector has been getting back to work since yesterday. Indeed I have been very busy.

There has already been softening in these markets. For example there are office buildings in Reading that are likely to have seen visits from members of this forum (indeed some of you may have worked in said buildings) that have had values slashed. The total value of these buildings are now below £100 million.

The value of my database has just dropped to a smidge below £2,000,000,000

I think a residential drop or even a bloodbath is inevitable.

Do you operate in any of the residential markets I mentioned above?

[Hobosapien]

News piece on at lunchtime says the residential property market is booming with Rightmove having its busiest period ever (measured since lockdown eased and estate agents able to do more business), driven by people looking to move out of London and other cities for various reasons discovered during lockdown, and the likely change to more WFH so may as well work from somewhere with a decent garden.

It may be short lived and requires someone to be willing to buy in a now less desirable location at a higher price than the more desirable properties they'll be fighting over in the sticks, but it shows that no matter the predictions, reality is all that matters.

Maybe they'll find buyers abroad if the government attract 'key worker' immigrants from HK and other places with various visa/points system incentives. Alternatively, maybe the government will buy all those expensive city properties for the homeless and other social dependents. Seems the only prediction worth making is that things are going to change.

[courtg9000]

Do you operate in any of the residential markets I mentioned above?

As I said originally. I don't do residential unless it is shifting entire portfolio's where the vendor will only sell as a whole. I have several of these from £300K up to £20 milion worldwide mainly on advertising. I do commercial stuff.
Commercially I have something in Greece on just on to advertising.
I have several things in Spain. from £14k - £1,000,000
I had discussions about a golf course in Portugal but no instruction or the relevant yet.
If you are after residential portfolios in these locations I might be able to help.