The EU debate - Part II

Again :

So Foxtons are seeing a slump in profits because the average UK citizen with average wealth
is not seeking to buy an average house primarily because of the Leave result ??

 

...and it has nothing to do with the summer slow down that occurs EVERY year.

That uninteresting 'claims' one of the large builders is having a clearance sale is about the biggest load of bollocks I've ever read on this forum. Even worse than some of my ****

 

Dunno anything about that.

But I do know that the average person still has to get on with buying an average
house using their average wealth (hence the question whether this is the property
segment that is causing the drop in Foxtons' profits) .

 

Wasn't there changes to the "buy to let" rules a while ago. Not sure what, if any, effect this is having on the housing front?

 

If you're serious? To work, or just to live?

 

Most only respond to the insults tbf, it's a shame that every time some reasonable debate starts, it normally goes south pretty quickly.
Your third paragraph around the economic cycle is exactly why I chose to vote remain. I am pretty much at odds with all that Europe is and has supposed to have done for us, but it seems pointless to have bailed out when oue economy is currently in a poor shape.

 

Yes, he does. And, yes he has....

 

Ok fella, from extensive profiteering from property over the years I can tell you that it's a buyers' and opportunists' market! There's a good reason why Barratt's shares are still in tank territory!

 

I agree. It's not even close to perfect, but we needed to remain for now.

If and when they try to introduce federalism which, whilst being a dead issue at the moment will, I suspect, raise its ugly head again one day - then I will vote to leave.

The subject has been touched on, but I have serious doubts about the viability of the EU under its current format.

 

think it was to stop people buying up all the housing stock.
so first time buyers can get on the housing ladder.

 

Nope. The new stamp duty had a major impact on the London market. It was a monumentally stupid time to introduce it with a referendum coming up. The market paused and waited for confirmation that the UK would stay in the EU, which was supposed to kickstart the market again. Oops! Since then it's been dead. Dear old Lucien Cook will tell you the the Chinese are exploiting the currency shift but he's just trying to talk up the market. Few people want to bet on a 10-20% currency shift when the analysts are calling a potential 30% decrease in certain parts of London. You have to take at least a five year view now. Most retail Chinese investors want a return in 24 months based on an increase in capital growth so they can turn their 10% deposit prior to completion. That market has all but vanished. That leaves the domestic market who have long been priced out of most of London. So a correction is inevitable. Personally I think that will benefit the regions as investors and buyers look for value and affordability but it will cost the government a fortune in London based stamp duty and property corporation tax.

 

I do think if we have voted to remain, the federalism question would have happened sooner rather than later. I believe that this would be the ideal scenario for countries such as Germany and France and the US would be rubbing there hands together.

 

Actually it's a private scheme developed by an HA. They're particularly risk averse.

The big boys are cash rich enough not to discount heavily but they still need to shift stock. Barratt, Berkeley, Galliard, Ballymore, Bellway...they're all cutting prices.

 

Other areas of the UK are still selling houses, just as before

 

You're partially right and partially wrong Kustard but I do love your regular, sweeping, authorative statements that are based on **** all other than what you want to be true! You're perfectly qualified to be a UKIP candidate!

 

Do it. Don't believe the garbage being spouted by the mainstream press. Things are improving throughout the Iberian peninsula. When you move you'll be sorry you didn't do earlier.

 

Federalism isn't ugly. It's just misunderstood

 

yeah cheers for that man. Like I say, it wont be for a year or 2

 

In this case, I'd disagree.

 

1. I would genuinely be very interested to see some evidence of one or two of your listed developers having advertised price reductions.

2. Developers have reacted to the SD changes recently. Nothing at all to do with Brexit as they have always incentivised anyway.

3. You state Ballymore are 'cash rich' yet they are still under NAMA. oops!

4. Since the vote for Brexit, house prices have actually risen.

5. The Asian investors ARE still out in force - FACT.