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Thread: Corona property prices

  1. #1051
    Grand Master jwg663's Avatar
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    Quote Originally Posted by Mr Curta View Post
    We're going to head down with some baskets for a bit of PYO
    Pick your Ohm?
    ______

    ​Jim.

  2. #1052
    Grand Master Mr Curta's Avatar
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    Quote Originally Posted by jwg663 View Post
    Pick your Ohm?
    Don't just do something, sit there. - TNH

  3. #1053

    Corona property prices

    Posted in the other mortgage thread.
    Last edited by noTAGlove; 25th September 2022 at 11:23.

  4. #1054
    A very interesting watch from someone who has a vested interest in a thriving property market, but pull no punches with his current advice.

    https://youtu.be/Esx6RTOkZo0

  5. #1055
    Journeyman
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    Quote Originally Posted by noTAGlove View Post
    A very interesting watch from someone who has a vested interest in a thriving property market, but pull no punches with his current advice.

    https://youtu.be/Esx6RTOkZo0
    Yes

  6. #1056
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    Quote Originally Posted by noTAGlove View Post
    A very interesting watch from someone who has a vested interest in a thriving property market, but pull no punches with his current advice.

    https://youtu.be/Esx6RTOkZo0
    I haven't exchanged yet but I'll be honest, I'm having a wobble.

  7. #1057
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    Quote Originally Posted by beechcustom View Post
    I haven't exchanged yet but I'll be honest, I'm having a wobble.
    You still need somewhere to live. Unless you're maxing out your finances and have minimal deposit, most people can afford to wait out the storm just as in 2008. Though to be fair I think the next few years are gong to be rougher than back then.

  8. #1058
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    It's a perfect storm at the moment, you'd have to stick your head in the sand not to recognise that, but with Ukraine playing a significant part, it is extremely difficult to predict how things will play out. A good time to be cautious.

  9. #1059
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    Quote Originally Posted by Scepticalist View Post
    You still need somewhere to live. Unless you're maxing out your finances and have minimal deposit, most people can afford to wait out the storm just as in 2008. Though to be fair I think the next few years are gong to be rougher than back then.
    Not maxed out as such (I can comfortably afford both mortgages) but I'm remortgaging my current place as a BTL. It'll be 75% LTV. I've got a fixed rate for 5 years of 3.09% interest only. If the market crashes and / or interest rates go bananas it's entirely possible that the rent won't cover the mortgage. At that point one might look to sell but many will do the same, driving prices down. Rental rates are likely to dip too further adding to the problem. Its also an EPC cat D so will need money spending to get it to a C by 2028 as will be the law.

    I'm taking a mortgage based on my income too (plus using a big chunk of my savings) to buy the new place. Its ideal and I'm in love with it but watching that YouTube video has panicked me. If there is a serious economic down turn, I will lose clients so even the 'income' mortgage may be in jeopardy. I've got a 5 year fix repayment at 3.25%.

    Tempted to start a thread in the BP with more detail but what does everyone think? Am I being paranoid?

  10. #1060
    Grand Master hogthrob's Avatar
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    If anyone has a bit of spare cash lying around, this is a bt of a bargain:




  11. #1061
    Grand Master Dave+63's Avatar
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    Quote Originally Posted by hogthrob View Post
    If anyone has a bit of spare cash lying around, this is a bt of a bargain:



    It’s actually only no.184, not the whole street.

  12. #1062
    Master blackal's Avatar
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    Quote Originally Posted by Scepticalist View Post
    You still need somewhere to live. Unless you're maxing out your finances and have minimal deposit, most people can afford to wait out the storm just as in 2008. Though to be fair I think the next few years are gong to be rougher than back then.
    When prices dropped before, there was a high proportion of sellers who held the belief "We're not selling at 0.95 of £XXXXX - the house was 1.0 £XXXXX two months ago!" and they held out. Most didn't sell and there was significant stagnation.

  13. #1063
    Master Halitosis's Avatar
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    With the financial markets in a similarly wobbly place, where best to store wealth? When in doubt the historic consensus for individuals has been bricks and mortar, so I predict house prices won't slide.

    That said, my opinion has proved to be hopeless on many topics.

  14. #1064
    Quote Originally Posted by Halitosis View Post
    With the financial markets in a similarly wobbly place, where best to store wealth? When in doubt the historic consensus for individuals has been bricks and mortar, so I predict house prices won't slide.

    That said, my opinion has proved to be hopeless on many topics.
    I thought it was gold.

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