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Posts posted by russbtl

  1. I reckon this is going to be a much deeper recession than 2007 given the economic shut down globally and the massive job losses expected to happen when the furlough scheme ends.

    I would hold back for 6-12months before trying to get back on the market again as prices could fall by up to 15%-20%. The biggest property discounts on the last recession happen 1-4 years after the 2007 crash, then prices started picking up again around 2013 onwards... 

    I know a lot of people say there is a shortage on the market and prices won't go down that much but there was shortage even back in 2007 and the prices did end up going down by quite a bit. 

    Also one thing to remember is that prices do tend to pick up first in the most desirable areas so i would avoid investing in the north until the south east has picked up some momentum. Again this is something i observed during the last recession. 

    FYI just to give you an idea - an article from the telegraph today: https://www.telegraph.co.uk/property/uk/buyer-demanding-20pc-house-price-cut-property-market-reopens/

    Hold tight, be patient and trust your instinct 

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