The top will fall but I can’t see average houses changing much while the demand is still there, a surge of BTL's sales might make a difference but then seasoned BTL'ers may well snap them up and stiffen up the market again, I predict a 10% fall maximum.
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Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave Johnson -
Yup, this ain't no point to go jumping in. Hold fast young puppet, there will be bargains to be had. You will be able to get a nice flat in Manc city centre for £30k in a few years time. One with a nice kitchen extension on it too.Originally posted by rootsnall View PostAbout 5 years too early if you follow the last slump. It hasn't even started yet
!my ferret is your ferretComment
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And all those who bought at the top at stupid wage multiple who will be unable to get remortgages when their fixed terms run out. All going in the pot, leading to a glut of houses on the market. Bring the noiseOriginally posted by gingerjedi View Post
my ferret is your ferretComment
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To add to that I see the biggest hit are new builds. You know the type built from carboard for 100K sold to some IT contractor for 750K...Originally posted by gingerjedi View Post
Owning a house is one thing, owning a house with history that's something else altogether, that's value that will not be lost easily."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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why would there be a surge of BTL properties on the market? the rental market is looking great as no-one wants to buy, rental yields are on the up and any savvy BTL landlord would hold onto the property until we came out of the period of stagnation we are seeing at the moment.Originally posted by gingerjedi View Post
I put a 3 bed flat in Reading up to rent on Monday at the high end of the market and have had 3 offers on it this week already!
Private sellers on the other hand..........Comment
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Perfect Storm
- Hard working Poles are heading home to better pay and conditions
- City money will dry up
- Era of cheap borrowing has ended
- Unemployment will rise
- BTL'ers will sell up and cash in leaving a glut of property
- Government will build another 70K+ houses adding to the surplus
- Cost of borrowing will rise even as interest rates fall
- Lending criteria will be so strict many won't even be offered a mortgage
- Min deposit will rise to 25%
- Cost of living will outstrip wage rises
- Vast tax rises will cripple the economy
A good time to buy? I don't think so....Comment
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It'll be fine™It's about time I changed this sig...Comment
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Late comers with big mortgages getting nervous... I know a few! I said the seasoned pro's would most probably calm the ship.Originally posted by Mailman_1 View Post
The market needs a bit of a drop to get people moving again, I don’t see it as such a bad thing.Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave JohnsonComment
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http://news.bbc.co.uk/1/hi/world/europe/7281608.stm
A blue Mercedes minibus in London is packed full of Polish workers poised for a journey across Europe to a new life in a distant land.
But these are not economic migrants - not now anyway.
These passengers are the casualties of mass migration, and they are going home.
More than 800,000 central and eastern Europeans have registered to work in Britain in recent years, and the unofficial figure is probably much higher.
But when temporary work dried-up, many ended up homeless and on the streets - many by now with drug or alcohol problems.
A recent survey found 18% of London's rough sleepers are now eastern and central Europeans.
Be interesting to see how rents will rise as the UK population starts declining again.
Last one out, switch the lights off.
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