The Official UK house prices DOOM thread The Official UK house prices DOOM thread
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  1. #1

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    Default The Official UK house prices DOOM thread

    U.K. House Prices Drop Most Since 2009 Under Virus Lockdown

    Property values dropped 1.7% in May, the biggest decline since February 2009, Nationwide Building Society said Tuesday. Separate Bank of England figures showed borrowing plunged in April, with consumers repaying a net 7.4 billion pounds ($9.3 billion) of credit, the most since comparable records began in 1993.

    https://www.bloomberg.com/news/artic...&sref=o1Dqf087

    DOOMed!

  2. #2

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    There goes my retirement. Me 'ouse is me pension. Bricks n Mortar, you cannot lose!
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    Bring on the dooooom!

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    Bring it on.

    Papa wants a cheap house in 6 months.

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    I can see unemployment reaching 4m when the furlough scheme is withdrawn.

    There will be a lot of repossessions like in the late eighties, and buyers will be very thin on the ground. Both of these forces will exert a big downward pressure on prices.

    I wouldn't be surprised to see falls in some areas/sectors of the market in the region of 30%.

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    Quote Originally Posted by ladymuck View Post


    Bring on the dooooom!
    And you said you hated my DOOM threads?

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    Quote Originally Posted by AtW View Post
    And you said you hated my DOOM threads?
    I'm a fickle female.

    I don't think I actually said hated. Probably despised.

  8. #8

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    Cash waiting at the bottom!

    The bottom is probably around 18 months away for a combination of reasons beyond those mentioned in the article. Those include, boomers needing the money as their pension fails to pay out so they are forced to accept lower offers. Younglings are cash strapped with student loan debt up to their eyeballs, together with a side order of rising interest rates, it is a perfect storm. Hopefully we'll enter a period of deflation for the topping on the cake - so exciting.
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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    Hopefully Portugal, Greece and Spain get ruined so I can buy a nice remote working retreat.

  10. #10

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    Commercial property and my contracting and business interests these days are in this sector.
    Residential interests are limited to homes I live in.

    The sector has been getting back to work since yesterday. Indeed I have been very busy.

    There has already been softening in these markets. For example there are office buildings in Reading that are likely to have seen visits from members of this forum (indeed some of you may have worked in said buildings) that have had values slashed. The total value of these buildings are now below £100 million.

    The value of my database has just dropped to a smidge below £2,000,000,000

    I think a residential drop or even a bloodbath is inevitable.
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