..to think a lot of large houses will come on to the market?

[Whatarisk]

AIBU to assume that larger more expensive houses will start to appear on the property market?

My house is currently up for sale. We’d like to upsize. DH doesn’t think the property market will be affected much and if anything, people in larger houses will be put off listing their home. I think the opposite will be true.

Our jobs are relatively secure (in the sense that v few can be 100% confident of total job security right now) and I’m of the opinion that we sell ours, move in with my parents and hope something comes up. There are no properties that we are interested in currently but I’d rather sell before the market dips too much.

Interested in people’s views.

There could be large houses come on the market who knows , people with large houses could want to downsize of course, but may well decide to stay in them until the market picks up

It's too volatile at the moment and the option to sell simply doesn't exist right now, for starters you'll never get anyone in to survey your property.

There are too many factors and whilst your flat may be less than ideal at least it's yours and when the market recovers, which it will, it will be worth more.

Too much of a gamble to move in with your parents. You could be there 1-2yrs and whilst you might be happy with that thought it doesn't mean your DH or DP would be.

I would sell up. It will probably take some time to find a buyer and there is only one way to find out. If you sell then you are in the best postion to buy.

Sell up HOW? No one is buying right now.

Nice houses will never fall in value.

Is there a universal definition of a nice house?

Theres going to be huge unemployment and a terrible recession coming, I would say house prices will fall a lot.

Anyway you could rent out your flat? Houses always do come up - death, divorce, bankruptcy etc but as many others have said those with large houses often have other assets and will sacrifice the house last.

House prices are based on what people are willing to pay/what other people are willing to sell for.

If no one can afford £XXX then the house isn't going to sell for that no matter how nice it is.

And if there are X numbers of Nice Houses for sale, and X-n numbers of people able to afford them, either prices fall or some house go unsold - or both.

Equally if nobody puts their house on the market because they know they wouldn’t pass the affordability test of getting another mortgage then there is less supply than demand and prises rise

House prices falling doesn't mean the market is suddenly saturated with cheap properties... People will not sell at a loss, unless they absolutely have to. Why would they?

I think that inflation will rise and property prices will fall. A recession is on the way and it’s going to take a long time for the economy to recover. That’s my thoughts anyway.

In a volatile situation, don't try to 'play the market' unless you're prepared to lose the game, possibly quite heavily.

This might all blow over. Or there might be a financial crash and/or hyperinflation. Or there might even be a punative levy on substantial bank balances.

Buy what you can afford NOW, with money you have NOW.

Who knows what will happen. But I think the could be a unspoken exodus of working people getting out of London. moving out of the region to get bigger houses after being in apartments and flats. Moving up north even.

With the wage stagnation we had before Corona, Brexit & now Corona plus the number of ftbs stuck on the ladder with little equity how do people think prices will keep rising?

People will not sell at a loss, unless they absolutely have to. Why would they?

It's not about choice because not everyone will have one. Some may have to move for relocation, some may no longer be able to afford the mortgage, some might have house equity as part of their pension provision.

Dark silver lining is plausible as the numbers of deaths increase.....
Massive slump and I think its long overdue...
House prices that is not extra dying too soon.

I’ve got a reasonably large house, it’s done brilliantly in keeping me sane. I’d have to be carried kicking and screaming out of here to be honest. The lockdown has highlighted just how important space is.

Are you anticipating people going under and needing to sell? I suppose that could happen.

Selling an occupied property isn't great right now.

If u don't need to move right now then I'd just stay where u are relatively safe. When and where houses sells also depends a lot on where u r selling and buying. Where I am in London has largely been unaffected by any recessions in the past bt the I is an interesting time we live in so no one really knows. If u don't need that large house just keep going nod save more towards the big one whilst u r able to. Moving to yr parents is not a gd idea as we cd be in the for the long run. I work in property btw

Well yes, there will be a certain percentage who do have to, of course tontie. There are repossessions even in boom times.
But the numbers will be a far cry from cheap homes for all who want them, as some people imagine a property crash equates to.

I suppose the expectation is that a lot of old people will die and their children will sell the homes they lived in thereby creating a buyers market.

But a lot of elderly people who have died of this will Already be in care homes, or over 60s retirement properties, or will leave a spouse.

The percentage inI a big house in a desirable area is likely to be low, I would think.

That is entirely dependent on the effectiveness of reducing community spread.

Surely the divorce rate is going to rise massively after we come out of lockdown? That will impact the housing market.

My gut feel is that the number of elderly homeowners dying will not increase enough for it to make a significant difference to the property market.