House prices to fall 10%

MonkeyLove

MonkeyLove

Striker
Just been looking around and it seems the consensus view from ‘experts’ EY, Deloitte, Savills etc... is somewhere between a 5 and 15% fall.

I know a lot on here are in to property. If this happens would you be looking to do anything?

We have a 3 month old and 3 year old and am planning that we will need to upsize when the eldest reaches school. So it might benefit us. Anyone else be looking to move if it dips?
 


MonkeyLove said:
Just been looking around and it seems the consensus view from ‘experts’ EY, Deloitte, Savills etc... is somewhere between a 5 and 15% fall.
Click to expand...
The local Savills removed the prices off the property descriptions in their windows just before they shut down for lock-down,a friend of mine just closed on a £650,000 place in Hampshire last december,we were actually chatting about price drops a few days ago.
 
MonkeyLove said:
Just been looking around and it seems the consensus view from ‘experts’ EY, Deloitte, Savills etc... is somewhere between a 5 and 15% fall.

I know a lot on here are in to property. If this happens would you be looking to do anything?

We have a 3 month old and 3 year old and am planning that we will need to upsize when the eldest reaches school. So it might benefit us. Anyone else be looking to move if it dips?
Click to expand...
House prices will slump but you'll probably end up needing a 40% deposit for your mortgage (unless you're a cash buyer etc)
 
We were just looking into a further advance to get some stuff done on the house when this all kicked off, fuck knows what kind of situation the market or the bank or tradesmen will be in when things get moving again though.
 
look out piano said:
House prices will slump but you'll probably end up needing a 40% deposit for your mortgage (unless you're a cash buyer etc)
Click to expand...
Is the UK Government not supporting the housing industry? It was one of the first things Trump did when things started to go tits up over here (and one of the smartest things)... Right now I am busy and have not seen any decline in house prices, my market is more robust than most, but we are getting busier than anything with people trying to get out of NYC and Hudson County.
 
I think the biggest hits will be city centre & London flats.
There's going to be a lot more working from home & people will maybe more appreciate the benefit of a nice garden.

Depending on how long this lasts & economic damage, family homes might not be too badly hit.
 
njmackem said:
Is the UK Government not supporting the housing industry? It was one of the first things Trump did when things started to go tits up over here (and one of the smartest things)... Right now I am busy and have not seen any decline in house prices, my market is more robust than most, but we are getting busier than anything with people trying to get out of NYC and Hudson County.
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I think it's pretty much in deep freeze at the moment over here until restrictions are changed / lifted.
 
njmackem said:
Is the UK Government not supporting the housing industry? It was one of the first things Trump did when things started to go tits up over here (and one of the smartest things)... Right now I am busy and have not seen any decline in house prices, my market is more robust than most, but we are getting busier than anything with people trying to get out of NYC and Hudson County.
Click to expand...
What did he do?
 

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