Brexit and +1 holiday home

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Robin S
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Brexit and +1 holiday home

Post by Robin S »

So we've been looking at adding another holiday home recently. We're juggling some money around but think we're OK to proceed.

Then last night happened?! How does that impact our decision? We've reduced our offer price on the additional property by a few percent and are expecting a lower valuation on an existing house we're looking to release some equity from.

But all in all the new property is a good yielding rental property in a good area in the UK and i can only see domestic tourism increasing in the medium term as a result of the brexit vote.

But as ever curious for all your thoughts?
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kevsboredagain
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Post by kevsboredagain »

I would have thought the only affect on domestic tourism would be the imminent decline and volatility of the economy. The pound will be worth less so holidays abroad will be more expensive, which may in turn compensate. EU tourism to the UK may drop as the sentiment on this side of the water and one of shock and disgust.

The anti immigrant feelings gaining ground in the UK must surely put EU and non EU people off visiting. Heck it puts me off coming back to visit and I'm a Brit!

However, it's all impossible to predict, just like last night.
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Nemo
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Post by Nemo »

The suggestion is that house prices will fall over the next couple of years. However if it's a long term investment, you've secured a reduction and the figures stack up income wise, then why not be brave and go for it anyway? The UK needs people to carry on with their business as normal, not go into paralysis which becomes a self fulfilling prophesy.
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