London property prices are going to collapse.
For the following reasons:
- Less immigration from the EU = less rents, lower yields = lower prices
- Less overseas money coming in, as they enjoyed easy access to Europe
- Banks moving operations overseas = less deposits available and tougher mortgage applications
- Eventual increase in interest rates once inflation takes hold (which it will)
In comparison to all other major cities globally, London is now one hell of a rip off in terms of living standards. Most of it was turned into a slum to keep property values high.
If you live and work in London - Leave now! sell up!
- Less immigration from the EU = less rents, lower yields = lower prices
- Less overseas money coming in, as they enjoyed easy access to Europe
- Banks moving operations overseas = less deposits available and tougher mortgage applications
- Eventual increase in interest rates once inflation takes hold (which it will)
In comparison to all other major cities globally, London is now one hell of a rip off in terms of living standards. Most of it was turned into a slum to keep property values high.
If you live and work in London - Leave now! sell up!
Scroll to see replies
Wait it out yet, 2-5 years. It's going to be mayhem!
Most likely they'll try QE and lower IRs - won't work.
Most likely they'll try QE and lower IRs - won't work.
Original post by Bill_Gates
For the following reasons:
- Less immigration from the EU = less rents, lower yields = lower prices
- Less overseas money coming in, as they enjoyed easy access to Europe
- Banks moving operations overseas = less deposits available and tougher mortgage applications
- Eventual increase in interest rates once inflation takes hold (which it will)
In comparison to all other major cities globally, London is now one hell of a rip off in terms of living standards. Most of it was turned into a slum to keep property values high.
If you live and work in London - Leave now! sell up!
- Less immigration from the EU = less rents, lower yields = lower prices
- Less overseas money coming in, as they enjoyed easy access to Europe
- Banks moving operations overseas = less deposits available and tougher mortgage applications
- Eventual increase in interest rates once inflation takes hold (which it will)
In comparison to all other major cities globally, London is now one hell of a rip off in terms of living standards. Most of it was turned into a slum to keep property values high.
If you live and work in London - Leave now! sell up!
Why is this a bad thing?
1. No idea whether there will be less immigration from the EU. You have to look at whats negotiated. If the Brexiters want access to the single market, then they will have to accpet free movement of people.
2. You dont know whether less money will ne coming in. A weak £ could make it more attractive for inbestment.
3. You overestimate the impact of the EU on property prices. There will still be people returning from the EU as well as people from non EU countries.
4. The bigger factors on housing are smaller family units, fewer houses, so demand outstrips supply.
All very well saying leave now, but less easy if your job and career are there.
Original post by 999tigger
Why is this a bad thing?
1. No idea whether there will be less immigration from the EU. You have to look at whats negotiated. If the Brexiters want access to the single market, then they will have to accpet free movement of people.
2. You dont know whether less money will ne coming in. A weak £ could make it more attractive for inbestment.
3. You overestimate the impact of the EU on property prices. There will still be people returning from the EU as well as people from non EU countries.
4. The bigger factors on housing are smaller family units, fewer houses, so demand outstrips supply.
All very well saying leave now, but less easy if your job and career are there.
1. No idea whether there will be less immigration from the EU. You have to look at whats negotiated. If the Brexiters want access to the single market, then they will have to accpet free movement of people.
2. You dont know whether less money will ne coming in. A weak £ could make it more attractive for inbestment.
3. You overestimate the impact of the EU on property prices. There will still be people returning from the EU as well as people from non EU countries.
4. The bigger factors on housing are smaller family units, fewer houses, so demand outstrips supply.
All very well saying leave now, but less easy if your job and career are there.
1. That won't happen also we will have a minimum threshold for income requirement in order to enter. London grows on cheap exploitable labour relative to land prices.
2. Less money is already coming in we know that.
3. They won't be coming back to London
4. Demand does not outstrip supply - we have enough abundant land
The ponzi scheme is coming to an end. The Londoners know it themselves.
Original post by Bill_Gates
1. That won't happen also we will have a minimum threshold for income requirement in order to enter. London grows on cheap exploitable labour relative to land prices.
2. Less money is already coming in we know that.
3. They won't be coming back to London
4. Demand does not outstrip supply - we have enough abundant land
The ponzi scheme is coming to an end. The Londoners know it themselves.
2. Less money is already coming in we know that.
3. They won't be coming back to London
4. Demand does not outstrip supply - we have enough abundant land
The ponzi scheme is coming to an end. The Londoners know it themselves.
1. then you will have to accpet you get no access to the single market as its been made clear freedon of movement is inseperable from it. That will put London at a distinct disadvantage.
2. Its only been a few days.
3. You dont knwo where people will be going.
4. Ofc demand outsrups supply in London, hence the stupid prices.
Original post by Bill_Gates
Wait it out yet, 2-5 years. It's going to be mayhem!
Most likely they'll try QE and lower IRs - won't work.
Most likely they'll try QE and lower IRs - won't work.
More QE of paper money not backed by anything of value.. great! Have the UK got any assets they could sell of I wonder? hmmm lol
I really do hope property prices do come down however
- They are far too expensive at the moment and hopefully young people will be able to afford a house soon.. YAY!!Original post by Iknowbest
More QE of paper money not backed by anything of value.. great! Have the UK got any assets they could sell of I wonder? hmmm lol
I really do hope property prices do come down however - They are far too expensive at the moment and hopefully young people will be able to afford a house soon.. YAY!!
I really do hope property prices do come down however
- They are far too expensive at the moment and hopefully young people will be able to afford a house soon.. YAY!!I'm surprised more young people never voted for Brexit, probably too busy watching the mass media.
Living standards will improve. Shorter lines at the NHS, More school places, cheaper & bigger houses. The things that matter.
But RIP London property lol
Good. There is no reason to live in London right now unless you were banking on houseflipping to somewhere better.
The quality of life there is so bad, I would sooner choose to live up north.
The quality of life there is so bad, I would sooner choose to live up north.
I live in London...
Original post by Bill_Gates
1. That won't happen also we will have a minimum threshold for income requirement in order to enter. London grows on cheap exploitable labour relative to land prices.
Yeah because clearly you are going to be the one who decides whats gonna happen.
Original post by lolakirk
Yeah because clearly you are going to be the one who decides whats gonna happen.
no one knows who will kid
Original post by Bill_Gates
no one knows who will kid
Exactly, so you can stop making up imaginary scenarios.
If this is true then it's at least one consequence of Brexit that I'll be pleased about as I want to get onto the property ladder in this damned city.
Original post by Plantagenet Crown
If this is true then it's at least one consequence of Brexit that I'll be pleased about as I want to get onto the property ladder in this damned city.
wait it out yet, can only get worse.
Financial times is saying people are already backing out of purchases. BOE will go with QE and lower IR in the short term but the reality of rampant inflation won't go away and then it get's fun! Good luck!
Original post by lolakirk
Exactly, so you can stop making up imaginary scenarios.
Me @ the entire leave campaign.
I wouldn't get too excited yet.
The foreign buyers driving up London property prices were not the Eastern Europeans working minimum wage jobs or the Syrian refugees etc how do you think they would afford £300k plus for a house? It is wealthy Russians, Arabs and so on. These people aren't going to be turned away as part of our "controlled migration" policy because it will inevitably let in skilled workers and people with money, in any case a lot of them don't even live and work here they just buy from outside. The value of the pound has now dropped which has increased their purchasing power relative to British buyers.
Also if there is a recession or downturn it's likely that mortgage lending will tighten up, that will lead to a squeeze in house prices and deflate the lower end of the market particularly so it will stop the market for first time buyers rising upwards so fast....but the whole reason it will lead to a slow down, is because people aren't being granted houses, so it doesn't mean housing will become more 'affordable' it just means those already in houses won't see the value appreciate so quickly.
The foreign buyers driving up London property prices were not the Eastern Europeans working minimum wage jobs or the Syrian refugees etc how do you think they would afford £300k plus for a house? It is wealthy Russians, Arabs and so on. These people aren't going to be turned away as part of our "controlled migration" policy because it will inevitably let in skilled workers and people with money, in any case a lot of them don't even live and work here they just buy from outside. The value of the pound has now dropped which has increased their purchasing power relative to British buyers.
Also if there is a recession or downturn it's likely that mortgage lending will tighten up, that will lead to a squeeze in house prices and deflate the lower end of the market particularly so it will stop the market for first time buyers rising upwards so fast....but the whole reason it will lead to a slow down, is because people aren't being granted houses, so it doesn't mean housing will become more 'affordable' it just means those already in houses won't see the value appreciate so quickly.
Lol you're all a bit late off the mark, house prices in London started falling in April/May. They're down about 2-3% on average, the first decrease in decades. Kensington and Chealsie have decreased 15% this last month alone. Economists don't think it was because of Brexit as it hadn't happened when they first fell. It's because the prices became astronomically high. They were bound to fall sooner all later it's better that it happened now before prices went even higher.
In a couple years time it'll hit the rest of the UK and it will actually be easier for us to get on the property ladder. Don't go fretting about it, it happens naturally every 10 years or so.
In a couple years time it'll hit the rest of the UK and it will actually be easier for us to get on the property ladder. Don't go fretting about it, it happens naturally every 10 years or so.
Quick Reply
Latest
Last reply 1 minute ago
Amazon Apprenticeships 2024Last reply 1 minute ago
Can someone please mark my AIC essay (my teacher is such an unreliable marker)Last reply 5 minutes ago
JK Rowling in ‘arrest me’ challenge over hate crime lawLast reply 11 minutes ago
Official Dental Hygiene and Therapy (Oral Health Science) 2024 Entry ThreadDentistry
2854
Last reply 15 minutes ago
Official: University of Birmingham A100 2024 Entry ApplicantsMedical Schools
1036
Last reply 16 minutes ago
Inlaks, Commonwealth, and Other Scholarships for Indian Students 2024: ThreadLast reply 21 minutes ago
Official London School of Economics and Political Science 2024 Applicant ThreadLast reply 26 minutes ago
UAL Bsc Fashion Management and fashion marketingLast reply 29 minutes ago
Can I do medicine with these gcse grades and what unis would be most likely to acceptLast reply 30 minutes ago
Official: Aston University A100 2024 Entry Applicant threadMedical Schools
1127
Last reply 32 minutes ago
Official University of Bristol Applicant Thread for 2024Last reply 55 minutes ago
Girl cries after first day of work "How do you have time for your life?"Chat
8
Last reply 55 minutes ago
My friend might be getting extra time and i hate it.Trending
Last reply 6 hours ago
Why is the political left now censorious and authoritarian??Last reply 1 week ago
TSR Goes Green: How important will the environment be in this year's election?Last reply 3 weeks ago
Is University of Birmingham prestigious and respected well enough in UK ?Trending
Last reply 6 hours ago
Why is the political left now censorious and authoritarian??Last reply 1 week ago
TSR Goes Green: How important will the environment be in this year's election?Last reply 3 weeks ago
Is University of Birmingham prestigious and respected well enough in UK ?
