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Old 20-01-2019, 19:53   #6676
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Re: Brexit

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Originally Posted by mrmistoffelees View Post
Some remainers are concerned about the potential increase in food prices.
food prices for many products would in all likelihood drop, as we wouldn’t need to apply EU tarriffs
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Old 20-01-2019, 20:17   #6677
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Re: Brexit

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Originally Posted by Pierre View Post
food prices for many products would in all likelihood drop, as we wouldn’t need to apply EU tarriffs
Remaining in the UK would see the pound rise which would cause a drop in the price of all produce, including that which we import from the EU on a zero tariff basis.
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Old 20-01-2019, 20:25   #6678
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Re: Brexit

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Originally Posted by jfman View Post
Remaining in the UK would see the pound rise
You sure about that?

Also i didn’t think leaving the UK was on the cards, but i can dig an independent Yorkshire.
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Old 20-01-2019, 20:39   #6679
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Re: Brexit

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Originally Posted by Pierre View Post
You sure about that?

Also i didn’t think leaving the UK was on the cards, but i can dig an independent Yorkshire.
Ooops
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Old 20-01-2019, 20:46   #6680
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Re: Brexit

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Originally Posted by Pierre View Post
You sure about that?

Also i didn’t think leaving the UK was on the cards, but i can dig an independent Yorkshire.
With a backstop for the Humber bridge
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Old 21-01-2019, 10:16   #6681
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Re: Brexit

There will be lots of this over the next few weeks. It looks like I will be an employee of an Irish subsidiary rather than a UK one shortly with a new contract as part of Brexit preparations
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Old 21-01-2019, 11:30   #6682
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Re: Brexit

This is really interesting. At the moment, just impacting the small number of ultra rich house owners but as is the way with the property market, if this gathers momentum, it could turn into a significant market correction.

Not a bad thing in itself as house prices are way over inflated but it will sober minds somewhat as many are banking on their house being their pension asset when they retire or at the very least, hope to use some of the capital liberated in downsizing to fund their children's house buying prospects.

Up to 25% wiped off house prices in some of UK's wealthiest areas

Quote:
House prices in some of Britain’s wealthiest areas have had up to 25% wiped off their value in 12 months as Brexit turmoil continues, according to the estate agent Your Move. That has meant typical price falls in some cases of almost £500,000.

Meanwhile, data from the property website Rightmove revealed the average asking price of a London home had fallen below £600,000 for the first time since August 2015, and was well below its peak of almost £650,000 reached a few weeks before the Brexit vote in 2016.

The two sets of figures come days after Britain’s surveyors issued an especially gloomy assessment, fuelled by the lack of clarity over Britain’s departure from the EU. On Thursday, the Royal Institution of Chartered Surveyors (Rics) said house prices were falling at their fastest rate in six years, and that the outlook for sales was the weakest in two decades.
I have a friend in Twickenham trying to sell her house at the moment and she is getting offers £150,000+ below the asking price. When she asked her agent why such low offers, they replied "Brexit".

Oh dear ..
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Old 21-01-2019, 11:44   #6683
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Re: Brexit

Quote:
Originally Posted by ianch99 View Post
This is really interesting. At the moment, just impacting the small number of ultra rich house owners but as is the way with the property market, if this gathers momentum, it could turn into a significant market correction.

Not a bad thing in itself as house prices are way over inflated but it will sober minds somewhat as many are banking on their house being their pension asset when they retire or at the very least, hope to use some of the capital liberated in downsizing to fund their children's house buying prospects.

Up to 25% wiped off house prices in some of UK's wealthiest areas



I have a friend in Twickenham trying to sell her house at the moment and she is getting offers £150,000+ below the asking price. When she asked her agent why such low offers, they replied "Brexit".

Oh dear ..
Fantastic news for first time house buyers, ya go brexit
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Old 21-01-2019, 11:48   #6684
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Re: Brexit

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Originally Posted by papa smurf View Post
Fantastic news for first time house buyers, ya go brexit
Not when those first time buyers are getting their essential deposit from their parents who have downsized to liberate these funds ...
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Old 21-01-2019, 11:58   #6685
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Re: Brexit

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Originally Posted by papa smurf View Post
Fantastic news for first time house buyers, ya go brexit
+1 Well said.

Can only be a good thing.We have started to see the positive effects of Brexit already and we are not even at March 29th yet
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Old 21-01-2019, 12:08   #6686
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Re: Brexit

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Originally Posted by ianch99 View Post
Not when those first time buyers are getting their essential deposit from their parents who have downsized to liberate these funds ...
Their parents should have bought low and sold high,it's their own fault for relying on the housing market for future finances.

What is the saying "You can't choose your parents"
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Last edited by papa smurf; 21-01-2019 at 12:27.
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Old 21-01-2019, 12:49   #6687
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Re: Brexit

Quote:
Originally Posted by papa smurf View Post
Their parents should have bought low and sold high,it's their own fault for relying on the housing market for future finances.

What is the saying "You can't choose your parents"

Well, to a degree you can, i got shot of mine at age eighteen with no regrets.
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Old 21-01-2019, 13:12   #6688
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Re: Brexit

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Originally Posted by papa smurf View Post
Fantastic news for first time house buyers, ya go brexit
If you are a first time buyer in Kensington and Chelsea or Westminster with a couple of hundred grand deposit then yes;

Quote:
The average house price in Kensington and Chelsea, the UK’s most expensive place to buy a home, dropped by more than a fifth (21.2%), during the last 12 months, from £2.25m to £1.77m.

In Westminster, the second most expensive area, typical prices fell by a quarter (24.8%), from £1.93m to £1.45m.
Going to be great for foreign investors though - a 20-25% drop plus a 10% drop in the GBP:USD and GBP:EUR rates
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Old 21-01-2019, 13:36   #6689
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Re: Brexit

Quote:
Originally Posted by jonbxx View Post
If you are a first time buyer in Kensington and Chelsea or Westminster with a couple of hundred grand deposit then yes;



Going to be great for foreign investors though - a 20-25% drop plus a 10% drop in the GBP:USD and GBP:EUR rates


Did you just make that up?
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Old 21-01-2019, 14:24   #6690
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Re: Brexit

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Originally Posted by ianch99 View Post
Not when those first time buyers are getting their essential deposit from their parents who have downsized to liberate these funds ...
Sad but unavoidable.

Sorry but I have very little sympathy for anyone who speculates on the property market, even when it’s the value of their own home they’re speculating on.

Houses are for living in, not for those who already have the means to purchase to bet on, forcing everyone else into life-long rental.

If Brexit slashes a third off house prices in the U.K. then that is to the long-term benefit of society.
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