Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
For example Governor of the Bank of England is a renter.
But not from the EU. I don't think he feels unwelcome.
The average pret-a-manger worker can't afford to rent a place in London. Not even when shacking up with ten of his mates.
For rich foreigners Brexit is also bad because buying property in a EU member state is much more interesting, a fair few of them would now choose Paris, Berlin, Amsterdam, Vienna etc
So what you're saying is that demand for properties in London is coming down because foreign buy-to-letters are choosing elsewhere, thus causing prices to become more sensible.
The kind of foreigners who should be (wrongly) feeling unwelcome by the Brexit vote are those who can't afford a property of any description in London. So that can't be the reason.
The foreigners in London who can afford London properties don't give a **** what Brexit voters think. Fairly sure those Russian oligarchs aren't giving two hoots in that respect.
We are talking about renters here.
For example Governor of the Bank of England is a renter.
For rich foreigners Brexit is also bad because buying property in a EU member state is much more interesting, a fair few of them would now choose Paris, Berlin, Amsterdam, Vienna etc
Triggers could be difference, in this case Brexit can easily be one for London property - a fair few foreigners don't feel welcome anymore and they'll move somewhere else.
The kind of foreigners who should be (wrongly) feeling unwelcome by the Brexit vote are those who can't afford a property of any description in London. So that can't be the reason.
The foreigners in London who can afford London properties don't give a **** what Brexit voters think. Fairly sure those Russian oligarchs aren't giving two hoots in that respect.
"Rents in Britain have recorded their first annual drop for six years, according to the UK’s biggest estate and lettings agency.
In February, the average rent in Britain was £921 a month, £5 lower than a year earlier, and the first annual decrease since 2011. Countrywide, which compiled the figures, said the buying frenzy ahead of the hike in stamp duty last year pushed up the supply of new homes for letting by 10%. Meanwhile tenant demand has been dropping, particularly in London, possibly related to Brexit.
England's housing market is 'broken', government admits in white paper
Rents are falling fastest in the capital, down 4.3% over the year to an average of £1,246 a month. It means tenants are now typically paying £63 a month less to secure an apartment compared to last year.
Rents in the south-east have also dropped, by an average of 2.6%, but in other parts of the UK they are still rising. Countrywide said rents in Wales were up 5.3% over the last 12 months to an average of £636 per month, while in the east of England they rose 3.1% to £945.
In London, the supply of new homes to let is up 18%, but the number of tenants looking for properties has fallen by 3%. Tenant demand is also falling in the south-east, but in other parts of the UK it continues to rise."
Sounds more like a correction of a bubble than because of Brexit. The article said 'probably' Brexit. Was Brexit to blame for the fall of house prices in 2008?
Bubbles don't get corrected - they get burst.
Triggers could be difference, in this case Brexit can easily be one for London property - a fair few foreigners don't feel welcome anymore and they'll move somewhere else.
Sounds more like a correction of a bubble than because of Brexit. The article said 'probably' Brexit. Was Brexit to blame for the fall of house prices in 2008?
Leave a comment: