Do you think the housing market will drop after Brexit??

[LittleGinBigGin]

I know this is kind of a how long is a piece of string question...

Do you think it will crash?

We have sold our house and are moving to a new area into rented (not sure if we will like it and will want to stay so renting for a few months, our tenancy is 6 months however we will be able to afford to rent and buy)

And I’m not convinced it will drop but DH is adamant it will, it’s causing some friction as he wants to buy ASAP but I’m happy to wait and see.

Any thoughts??

After a hard Brexit, yes. International companies will leave the UK and the ripple effect will be terrible.
In a Corbyn government, yes. He says he wants to apply rent controls so landlord/second home owners will sell up.
Otherwise, no .

It’s all so difficult to predict isn’t it?

I think he’s worried we will be priced out if it goes up, and I’m worried about negative equity if it goes down. I don’t want to be stuck in an area I don’t like if it crashes.

Honestly it’s anyones guess. We where leaving in March yet still here in June. How long can you wait on what ifs on Brexit.

Honestly nobody knows. If there is a big fall in value then people may avoid selling and it could be difficult to find a house you actually want to buy.

But if you're in rented then you're in a good position to move quickly if prices suddenly start going up. You'll only get priced out if prices start rising and you convince yourselves that they will fall again and delay buying.

Yes I think the market will drop like fat kid on a seesaw

Our dip runs out in about 6 weeks, I’ve got no concerns about getting another sorted. All money from this house will be kept safe and away from my bad spending habits

It’s just such a big decision and a lot of money if we don’t like the area 🤷‍♀️

House prices have gone down my area in the last 6 months. I don’t know if that’s anything to do with Brexit / potential Brexit. I’m in the south east.

I don't know. Brexit is causing untold stress and anxiety everywhere I look. Even the people who voted for look like they were happier before anybody had ever mentioned the word Brexit.

After a hard Brexit, yes. International companies will leave the UK and the ripple effect will be terrible.

I am not sure they will. However, inflationary pressures will be immense and interest rates will rise. A soft Brexit may prevent that.

In a Corbyn government, yes. He says he wants to apply rent controls so landlord/second home owners will sell up.
Otherwise, no .

Agreed, though rent controls are inevitable at some point in the future.

People are saying that the housing market is due a correction anyway, since the crash of 2008 the policies put in place was to prop up the housing market.

Even if we stayed in the EU there is still enough economists who are predicting a crash, but the black swan everyone is looking for could be brexit yes.

Not in general as we are not building even half the number of houses needed. There may be reductions in less desirable places to live, especially the edges of commuter belts, but I don't think in general.

Maybe he has a good point then, and we should look to buy August/September time.

Nope