For those saying Brexit will not have an impact...

[freshstart22]

On housing prices you are mad!

You might not notice anything now but I think a storm is coming. If anyone is even thinking about selling I would get moving asap.

We went into negative equity in the last crash and needed to move for work. However there was no way we could afford to take the hit of selling our FTB house for less than we paid for it, so we had to rent it out. So a crash doesn't necessarily put property in the reach of first time buyers - if anything it chokes off the supply of suitable housing.

Kirinm the paradox is that the renters probably aren't even paying off the btl ll's mortgage, in the sense that it's likely to be an interest only mortgage. So the only capital gain is the equity. And as some lls claim that in income terms btl is barely profitable (therefore the campaign to reverse the tax changes), if that is true that means nobody is better off as a result of that btl - neither the ll nor the tenants who have been priced out by btl investors.

I don't think in general btl is always as profitable as lls think, particularly given the cgt they will eventually face (though I know there are exemptions). Overall private rental seems to be an inefficient way of providing housing overall compared to owner occupation, because of the incidental and transaction costs to lls and, even more so, to tenants. (eg the repeated rental agency fees for reference checking, credit checking, renewing agreements etc, which don't contribute to the quality of the housing stock or provide any 'benefit' to tenants).

"The latest survey from the Royal Institution of Chartered Surveyors showed that its member estate agents now expect house prices to rise 3.3 per cent a year on average for the next five years - the most confident prediction given in the survey since the referendum vote."

www.thisismoney.co.uk/money/news/article-3777988/House-prices-WON-T-fall-Experts-reveal-property-market-remains-robust-spite-Brexit-fears.html

We sold STC end July for £10k over the asking price, survey next week. Fingers crossed that sale doesn't fall through. Brexit had worried me - I certainly don't want a crash but also want my DC to be able to get on the housing ladder at some point in the future.

The info from the EA was that mortgage applications are taking a bit longer due to increased volume following interest rate drop.