Has the market slowed down because of eu referendum?

[lavenderpekins]

Just that really.. Wondering your thoughts.

We're trying to sell and buy at the moment (se)

[ThroughThickAndThin01]

Yes. I think there are jitters.

[ThroughThickAndThin01]

However, EU referendum or not I think prices will slide. Confidence is waneing.

[MightyMeerkat]

I think it's slowed too. Nothing has come on the market in my preferred location in two weeks.
I suspect some people are worried about the economy following the referendum. Plus lack of supply is meaning people are not putting their house on the market because there is nothing to buy. Bit of a vicious circle

[AveEldon]

I think so
Lots of price reductions in my area of London

[lavenderpekins]

😰😰😰

It's what I've been thinking..

Wish we'd sold last year.

Do you think it's pointless to keep up with all the viewings? (they're so exhausting) and wait till the end of June?

[sellotape12]

Not sure what the cause is, but we are househunting at the moment in London and things are definitely coming down in price or just not shifting.
We waited nine weeks for a buyer and weren't exactly inundated with offers

[lalalonglegs]

I'd keep it on because, although it might not be attracting many viewers at the moment, that doesn't mean that there aren't people who are interested but want to wait and see what happens on June 23rd. I wrote on a thread yesterday that I tried to sell a flat before the last general election when there were worries about a Labour/Liberal coalition bringing in a mansion tax/raising taxes on BTL etc - the flat sat there for several months but, on the day after the election, when those fears were banished, a load of people booked viewings and we got three asking price offers that weekend.

There is also a tiny chance that someone might love your house enough to risk offering before the referendum.

[lavenderpekins]

Thank you for the replies.

It's an 'ok' house but the road is a bit busy but in a popular area. We've had 2 offers that have fallen through and we're still having a fair amount of viewings.

I suppose we'lll see what the feedback was from Yesterday's viewings.

I just don't think I've got it in me to keep it on the market till June.. 😨

[lavenderpekins]

Although i've just realised it's almost exactly 2 months away! That doesn't seem too long..

I think UK will stay in. What do you think?

[specialsubject]

if you are getting viewings you've got interest.

the market may have slowed due to the BTL stamp duty changes. Inflation is quite high, jobs aren't secure and so on.

situation normal!

[ThroughThickAndThin01]

I hope we go out. I think we'll stay in.

I'd keep it on the market. It only takes one buyer.

[PigletJohn]

From what I hear, it is worse at the top of the market.

So the palaces owned by oligarchs, and London homes owned by international traders and bonus-bankers will be slack, because they may need to move to an EU financial centre if UK resigns. I also sense a reduction in tolerance to tax-dodging billionaires, who may be made to feel less welcome.

It will ripple down to the layer below the cream, and to business owners who may be affected by the downturn in trade, because, so far, nobody knows how big it will be or how long it will last. This is not a good time to take out a big mortgage, as interest rates are only going to go one way. However, if you can keep up the payments, the probable rise in inflation will erode the value of your debt.

For the moment, nobody knows how they might be affected, so it is normal to put off making a decision in case you end up regretting it later. Those who make a bold move and find events turn out right for them will be very pleased.

A vote to resign from the EU will mean that uncertainty persists for some years, until a new order can be established.

[ThroughThickAndThin01]

Why would interest rates rise??? I can't see that happening. Stability will be the main thing coming from the government.

[PigletJohn]

If UK resigns from EU, international trade will drop, and the pound will lose its value. Interest rates are raised to encourage foreign lenders to put, or keep, some of their money here, to try to support the pound.

[ThroughThickAndThin01]

Hmm, I'd hold my breath on that. I don't think that'll happen.

[PigletJohn]

Which bit?

[lavenderpekins]

There are so many unknowns, I don't think we should even be having a referendum.
However I do strongly believe in democracy and I suppose this is it.

[DiggersRest]

You're right Piglet but so many people don't want to believe the government will have to raise IR. The government don't care about the people in the UK, they care about keeping the UK as an economy afloat which means keeping the pound stable.

[FrikkaDilla]

It would be fantastic if the government raised interest rates - savers/pensioners have been screwed by the government for years now - but I wouldn't hold my breath.

[PigletJohn]

15% interest rates with 12% inflation is the same as 5% interest rates with 2% inflation.

[StepAwayFromTheThesaurus]

Unless your wages are frozen despite inflation... There are plenty of people whose wages have no risen in line with inflation, or at all, over the last six years.

[PigletJohn]

If you know any old people, ask them what happened to their savings under the Thatcher woman when inflation hit 18%, and to their mortgage payments, and to average house prices..

[Shakey15000]

Nothing new coming on the market in the area we want to buy in. Village though so not entirely unusual.

I remember the 15% interest rate

[FrikkaDilla]

uk.businessinsider.com/citi-research-uk-house-prices-versus-income-ratio-savings-debt-2016-4