Reply to: House Price Crash!

[DoctorStrangelove]

The UK used to have a net inflow of rich people, now it's an outflow.
It's obvious why really, the future is going to be bleak.

Why are you in any way concerned?

Apparently you've ****ed off out of here so what's the point?

[sasguru]

Haven't you been saying that since the last crash, 10+ years ago? If you wait long enough you're likely to be proven right I suppose. Wait even longer and prices will boom again.

I stayed with property 10 years ago, this time the amount of property I have in the UK is exactly nothing.
It could of course be that there is a non-Brexit fudge agreement in which case both property values and sterling will go up - but that depends on the level of fudge.

[TestMangler]

Its Aachen not Antartica!

Is Aachen not twinned with Halifax ? If it is, it must be a proper shit hole.

[DimPrawn]

Signs...

Housebuilding barons sell shares worth £300m as fears mount for property market | Daily Mail Online

[scooterscot]

Its Aachen not Antartica!

[OwlHoot]

When you compare the cost of acquiring the materials and build against market value you realise the system is bonkers.

£400k in Aachen,

lovely countryside, lovely baked goods at every corner and nice people. A few hours drive to the tunnel.

..

Yeah right, now show us a picture of this place in winter, when there's ten feet of snow and six foot long icicles hanging all round the eaves!

[d000hg]

Got out in time, it was utterly predictable.

Haven't you been saying that since the last crash, 10+ years ago? If you wait long enough you're likely to be proven right I suppose. Wait even longer and prices will boom again.

[GreenMirror]

Plebs. You lot need to raise your horizons beyond your next paypacket and crypto herd panic. Try thinking a few decades into the future - are the Grosvenors pissing their pants, or just carrying on being rich?

At least you don't have to worry about thinking decades into the future. Not long to go for you now.

Before you go - how did you get Diana bumped off?

[PhiltheGreek]

Plebs. You lot need to raise your horizons beyond your next paypacket and crypto herd panic. Try thinking a few decades into the future - are the Grosvenors pissing their pants, or just carrying on being rich?

[Zigenare]

The UK used to have a net inflow of rich people, now it's an outflow.
It's obvious why really, the future is going to be bleak.

As long as you're not over here - the future's bright!

[LondonManc]

yes - The Millionaires Are Fleeing. Maybe You Should, Too. - there's many articles out there. You just have to read something that is not the daily wail. Foxtons and other up market estates agents showing the same data.



If Brexit is so wonderful why are people avoiding large transactions? Surely if the UK is to become Switzerland Mk II we should be filling our boots before prices really do take off.

PS: Interest rates have not risen. 2%, that's a rise. 0.25% is a rounding error. If that's got people concerned the economy is really fooked.

It's nothing to do with house prices; we've wanted you to f*** off for years. HTHBIDI

[sasguru]

shockingly France seems to be suffering from Brexit too! Net outflow 33% higher than ours.

.

The UK used to have a net inflow of rich people, now it's an outflow.
It's obvious why really, the future is going to be bleak.

[sasguru]

movers and shakers act, everyone else reacts.

Indeed

I fully expect a sterling crisis next year too.

[vetran]

yes - The Millionaires Are Fleeing. Maybe You Should, Too. - there's many articles out there. You just have to read something that is not the daily wail. Foxtons and other up market estates agents showing the same data.



If Brexit is so wonderful why are people avoiding large transactions? Surely if the UK is to become Switzerland Mk II we should be filling our boots before prices really do take off.

PS: Interest rates have not risen. 2%, that's a rise. 0.25% is a rounding error. If that's got people concerned the economy is really fooked.

Well that is 3000 multi million pound houses maybe being sold , so of course house prices are going into free fall .
It may not be a property sale that is only part of the data, it may be Brexit but it may be the rises in tax or more concentration on tax havens that mean those with money are leaving a high tax economy.

In a global population of 15 million people each worth more than $1 million in net assets, nearly 100,000 changed their country of residence last year.

shockingly France seems to be suffering from Brexit too! Net outflow 33% higher than ours.

France had long been seen as the anti-Britain, a left-leaning bastion of prying bureaucrats and high taxes that scared off the wealthy, despite the charms of Paris. But the growing exodus of millionaires peaked in 2016 with a net outflow of 12,000, then slowed sharply to just 4,000 last year.

while 0.25% is nothing to high earners its quite a lot to the bottom end who are struggling to fund a house.

[scooterscot]

It may be too early to see if intention to liquidate is being seen in sales data. Are there more properties on the market?

That would be focusing on the result. Instead look at property transactions. They are way down. UK Gov own records show it to be the case:

https://assets.publishing.service.go...2018__cir_.pdf

movers and shakers act, everyone else reacts.