residential and commercial property prices in next 5 years

[Neddy flanders]

Flicking around Rightmove seems to be alot of land with development potential available at the moment. in varying stages of development, from bare land to full operating units. likewise there seems to be alot of residential on the market. Do you see demand for either or are prices set to crash?

 

[Frank-the-Wool]

Commercial property will struggle for the foreseeable future.
Residential will depend on position and facilities. Nice rural location with high speed broadband with access to London by train not more than 2 hours for going up a couple of times a week will command good prices.
Anything else for the next few years will be difficult.

 

[Neddy flanders]

do you think commercial could be converted to residential? would this flood the housing market? seems alot of massive housing developments already very empty around here.

 

[Swarfmonkey]

If I head half an hour north east of where I live I can find a lot of commercial property (all former offices) that has already been converted into housing. Most of the conversions look pretty grim.

 

[onthehoof]

It never ceases to amaze me where all the people come from, there's tens or hundreds of thousands of houses been built/about to be built round here if you say 20% are first time buyers then the other 80% are moving in from somewhere else but also selling a house so there must be a lot of empty houses in some places

 

[robs1]

We have had approaches from four developers in the last three months, two of them household national builders, they must think there is profit to be made. Best friends widow has just done a deal on a small area the other end of the village with another big developer.
Cant see house prices going up though

 

[Frank-the-Wool]

If the economy sinks which is unfortunately very likely the demand for housing will reduce. In some areas the demand has been by eastern europeans who have been working here. If the pay or work disappears many will return to their homelands where economies have greatly improved.

 

[horizontal]

If you strip out the Help to Buy scheme and equity schemes, reintroduce stamp duty, then couple that with an exodus of Eastern European labour, rising unemployment and inflation post Brexit you have a pretty toxic mix for the housing market over the next few years, regardless of location. There is no way that existing build rates can be sustained, unless it’s all being funded by second home purchasing from London residential equity (which it isn’t).

 

[Still Farming]

They'll drop abroad as brexit and 90 day residence rules kicks in

 

[glasshouse]

do you think commercial could be converted to residential? would this flood the housing market? seems alot of massive housing developments already very empty around here.

Where?

 

[bluebell]

thousands of houses being built, or to be built here in essex, why ? or is that a taboo question ?

 

[Yale]

Generally there are around 10-12 houses minimum on sale around our immediate area and community.

Currently there is one.

Houses are hellish in demand here,I know of 3 or 4 which have changed hands in the last year without coming on the market,locals hear about them then trade up or down.

Rural location in an AONB with good transport links,3 towns within 20 mins,Chester City less than half hour and Liverpool not a great deal more.

Location,location.........

 

[Clive]

my view is london prices will soften and the rest of the country will rise a bit ... but not a lot

despite covid I have a waiting list for commercial property

i see negative interest rates a certainty now

 

[glasshouse]

my view is london prices will soften and the rest of the country will rise a bit ... but not a lot

despite covid I have a waiting list for commercial property

i see negative interest rates a certainty now

I will be offering to borrow at 0.5%

 

[B R C]

I can’t see demand for houses dropping , it’s just being able to afford them that will slow the market, or prices will need to drop.
I can see good demand for small comercial units in the right locations, good for a few more conversions yet.

 

[Nearly]

The right houses will have a demand as holiday lets / 2nd homes.

 

[Flat 10]

thousands of houses being built, or to be built here in essex, why ? or is that a taboo question ?

I have no idea. Cambs is the same.

 

[jendan]

I will be offering to borrow at 0.5%

Long term money has been going up,3%-4% now. Banks that have lent out at 2% or less are using any excuse in the book to pull it in,and then lend it out again at a higher rate.

 

[yellow belly]

The latest inflation is .3 %
the latest wage inflation is 4.2 % for public jobs
and 2.7 % for private sector
employment. Is still above 95 %
those in work have more to spend than they did last year
many of the newly unemployed will be reemployed once the hospitality industry gets back to work in a year or so
things always start to improve when at the point of most despair
which we are probably at this week

things to look forward to we need to be optimistic
days get longer from today

Oxford Astra vaccine approved

1 million vaccinated January
10 of millions spring early summer

 

[Doing it for the kids]

Depends on location.

I can’t see, in the right location, things changing much.

Demand is savage around here, especially for rental. I can rent a 2 bed cottage in distinctly average condition in 24 hrs woth a Q of people, it’s frightening.

Brexit is more of a worry than covid