What happens to property if GBP crashes?

[aussielong]

If the pound collapses will property crash?

I would have thought not. It will become cheap for overseas buyers, right?

Or will people start pulling money out of the UK, companies in the UK will suffer and start laying people off. Those people will lose their houses. Supply will outstrip demand and prices will come down.

?

[sweetandsour]

If the pound collapses will property crash?

I would have thought not. It will become cheap for overseas buyers, right?

Or will people start pulling money out of the UK, companies in the UK will suffer and start laying people off. Those people will lose their houses. Supply will outstrip demand and prices will come down.

?

If the pound crashes the cost of imports such as food and oil will increase so much that everyone will become poor and unable to afford to buy property so the prices will drop.

This will create an opportunity for overseas buyers to snap up cheap English properties. There will be TV programmes in newly rich countries like India that show Indians travelling to England to look for holiday homes.

These programmes will be called A Place in the Rain.

[snaw]

If the pound crashes the cost of imports such as food and oil will increase so much that everyone will become poor and unable to afford to buy property so the prices will drop.

This will create an opportunity for overseas buyers to snap up cheap English properties. There will be TV programmes in newly rich countries like India that show Indians travelling to England to look for holiday homes.

These programmes will be called A Place in the Rain.

Come over and lick our chutney spoons they will, just you wait.

[Lockhouse]

If the pound crashes the cost of imports such as food and oil will increase so much that everyone will become poor and unable to afford to buy property so the prices will drop.

This will create an opportunity for overseas buyers to snap up cheap English properties. There will be TV programmes in newly rich countries like India that show Indians travelling to England to look for holiday homes.

These programmes will be called A Place in the Rain.

[HairyArsedBloke]

If the pound collapses will property crash?

I would have thought not. It will become cheap for overseas buyers, right?
Or will people start pulling money out of the UK, companies in the UK will suffer and start laying people off. Those people will lose their houses. Supply will outstrip demand and prices will come down.

?

It's already happening. In the posh parts of London the prices are seeing double digit inflation with the buyers mainly being foreigners.

[snaw]

It's already happening. In the posh parts of London the prices are seeing double digit inflation with the buyers mainly being foreigners.

Good stuff.

Anything that raises house prices in London is a very fine thing with me indeed.

Couple of year bubble would suit me nicely.

[SantaClaus]

Property is fecked in this country. Wait till interest rates start increasing.

People who took out loans at 3% won't know what hit them.

[Menelaus]

If the pound crashes the cost of imports such as food and oil will increase so much that everyone will become poor and unable to afford to buy property so the prices will drop.

This will create an opportunity for overseas buyers to snap up cheap English properties. There will be TV programmes in newly rich countries like India that show Indians travelling to England to look for holiday homes.

These programmes will be called A Place in the Rain.

Pity that Christian Digbie won't be around to advise them

[gingerjedi]

Property is fliped in this country. Wait till interest rates start increasing.

People who took out loans at 3% won't know what hit them.

It won't happen as lenders have been strict, there are plenty of people who could easily afford a much higher rate being refused.

Some would argue this is the way it should be.

[doodab]

It won't happen as lenders have been strict, there are plenty of people who could easily afford a much higher rate being refused.

Some would argue this is the way it should be.

Lenders have only been strict again for the last couple of years. There are plenty of people who took out 5 year trackers and dubious self certs in 2007 or earlier.

There are also quite a few buy to let landlords who are already struggling to cover the interest only mortages on their portfolio because rents have fallen. A rise in interest rates will push a few of these people into negative cashflow at which point they either have to sit it out for as long as possible or crystallize any capital gain or loss. We haven't really seen the fall out from the buy to let boom yet.