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I am a bit curious about learning what property buying strategy people are applying currently until 31st Oct considering the fact that the chances of a No Deal Brexit are now higher than ever (parliament suspension, queens speech, Boris etc. etc.)? My question is mostly from a Commercial and/or Development opportunities and less of standard BTL/HMO properties but would be good to hear views from everyone.
In particular, are you still in the 'What Brexit!?' boat and are still buying as you were or are you now really in the 'Wait n Watch' mode considering that a no deal Brexit could potentially reduce the price of any purchase now, in some weeks time? Or put another way, there may be better bargains some weeks down the line. I personally have always believed that we will have a false Brexit (custom union etc.) so always assumed this to be a good time to buy while others are panicking but now I am not too sure myself.
Once again, I am thinking again from a commercial property point of view which is probably (depends on what you buy) a bit more prone to macro economical conditions but then again, a Hard Brexit is going to impact probably whole sector.
Am I right/wrong? What do you think?
Thanks KiH for sharing your views.And also yes, I think it is a good discussion too and it would be good for as many people to contribute to it as possible. However, it appears not many other people think it that way as not many views or contributions to the thread.Thanks anyway though. Let's see how it goes! ?
I have no idea when or what Brexit will be, I'l just let the politicians squabble until something actually happens.
I've bought a mixed use property this year, to refurb and live in myself as well as get a rental income. I'm confident, perhaps naively, that the commercial element is a sound investment. I've kept enough back to buy another property but I'm waiting until I've completed the first stage of the refurb before purchasing, as it would likely sit vacant for a while. Of course, if a bargain came along because of political uncertainty I may just take it.
A good teacher must know the rules; a good pupil, the exceptions.
Martin H. Fischer
I think the issue is who says it will happen in Oct, Nov etc. I started out as a strong remainer but now I just want it done because I fear Corbyn far more than Brexit. I think there will be opportunities as people hold off. I dont think there will be a price crash, rather a few people willing to take a cheeky offer in order to close a sale.
My bet is we will kick the can down the road until next year, change leadership again and then come to some form of deal which is leaves us in the Eu in all but name,.
Good inputs Gary and Abbot.I have been very upbeat about this whole thing so far as I never thought the proper Brexit will or can happen, however, the latest unprecedented steps of parliament suspension, queens speech, Boris in charge and his apparent adamancy of delivering a Brexit by 31st October is making me a bit cautious I think. I am personally in the wait n watch camp for the next few weeks until a super bargain falls into my hands.
I am far more bothered about Corbyn than Brexit, the uncertainty though is causing a real shortage of supply as the market is really stagnant. Anything resi that becomes vacant we are selling in preference to re-letting just in case Corbyn gets in, the less we have the easier it wil be to emigrate :-)
Anyway heres Boris's latest thoughts on the situation
Stewardson Developments Ltd.
Burson Land Ltd. & Jennings & Gilchreaste Ltd.
Follow me on twitter - @philstewardson
Lol ... good one Phil ? ? ?
And I did not mean ? ? ? there either, wanted to put a big smiley ... looks like the situation is just too serious that technology is worried too! :-)