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Hi, anyone noticed any impact of Covid 19 or the drop in the stock market affecting the market? I’ve just put a property on the market which is located in a very popular street and contrary to the expectations of the estate agent is having very little interest.  Of course I realise there could be a lot of other reasons for this, price, over-optimism, BS, etc, I wondered if anyone else had noticed anything. Personally I might feel slightly nervous about buying a property with a looming recession......

Thanks

John

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Hi,

I've recently put a property up for let and they've had a lot of applications for it. It's priced at market value and is a basic fit out in an 'ok' area. That being said, there's virtually no competition.

Similarly I've just had a mortgage approved for another and its anticipated it will be let without going to market (due to waiting lists)...

I understand the worry. There's a post below about it where people have differing opinions. For me personally, I think there will be a Brexit based scenario where people sit and wait... if prices go down then it is a good time to start buying because its inevitable they'll go back up (famous last words).

I'm really interested to hear others personal experiences though.

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Just to add... in a time where people are worried about buying too high or selling too low the rental market can be buoyant because people need somewhere to live, demand goes up, sale transactions decrease and there's less appetite and supply of houses for sale.... perhaps I've been over basic but it does come down to fundamentals. Not to mention I think there will be crude attitudes in central govt that the economy needs protecting at the expense of some lifes.

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I think the problem for many BTlL.s will be the tenants ability to continue paying the rent - especially for those doing 'self emplyed / gig' type jobs. I am expeciting to take a hit in this area - Oddly, i expect the 'benefit' tenants to be more reliable..

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