Could be a big unless there.

COYP

Commentators are now reporting that the housing market is in the deep freeze.

Perhaps the thread title is too euphemistic.

Kayla did Anfield & Old Trafford

It’s frozen because all the agents are shut.

What happens when they re open will determine how much prices fall by. Make no mistake, they will fall, but by how much nobody knows.
Personally, and I’m a property developer, I think we are looking at no more than 2007. I think the reason prices won’t fall too much is that many people who would look to sell now won’t once they realise their property is now worth less than it was before CV, thus the shortage of buyers will in some way be counteracted by lack of sellers.

I reckon 10-20% drop in South East but I don’t think they will hit bottom for some time, possibly end of the year.

"It feels much better than it ever did, much more sensitive." John Wayne Bobbit

I started the buying a flat thread in the other section and thanks to a lot of good advice from the likes of Tom and others, I’m in a better position to buy now.

That said, seen Rightmove plastered all over my Facebook this morning offering advice on when to invest in property. It just seems wrong to me. As others have said, there are winners and losers but at a time like this when people are losing jobs, loved ones and soon, houses, I don’t think Rightmove should be gloating or advertising vulture strategies.

I don’t think it’s to help first time buyers or people that buy a home to live in it either, the Millionaires are no doubt rubbing their hands together and will pick off family homes for relative pennies and sit on them, probably not even going to regular market.

On a separate note, does anyone think new-builds would drop through the floor or hold their price? I never really considered one because the prices are obscene but who knows now. I assume they can be sat on a lot longer as no one is in them plus they have the convoluted, helping but not really helping government scheme.

It won’t go to hell.

Just a slight downward readjustment

"It feels much better than it ever did, much more sensitive." John Wayne Bobbit

Lack of stock possibly keeping prices artificially high, no new properties coming to market during lockdown down.

Trust me it’s coming. Lenders already done away with 20% buy to let deposits, in fact only a few now doing 25%

Only one direction they are heading, just a case of by how much

"It feels much better than it ever did, much more sensitive." John Wayne Bobbit