is it good time to buy now ?

la gran siete

Distinguished Member
or should one wait six months? Estate agents keep telling me the market is beginning to move mainly as the result of speculators stepping into the buy to let market, but i think there may be a further fall .What say you?
 

andykn

Novice Member
"never try and catch a falling knife".

Research your chosen market and you will see when prices start to rise.

The last house price slump lasted about 4 years, we're less than 2 into this one.
 

Yandros

Novice Member
"never try and catch a falling knife".

Research your chosen market and you will see when prices start to rise.

The last house price slump lasted about 4 years, we're less than 2 into this one.
:lesson::lesson::lesson::lesson::lesson::lesson:

Sit this one out mate, it's going to get worse before it gets better.

If I could be bothered, I could dig out the 2 or 3 posts I've made in General Chat in the last few years advising first time buyers to keep the hell out of property as it was about to go seriously pear-shaped. I seem to recall most of this fell on deaf ears at the time *sigh*

Although it's very bearish, I'd suggest poking your nose around in House price news, information and discussion - HousePriceCrash.co.uk, and listening to the predictions there.
 

andykn

Novice Member
:lesson::lesson::lesson::lesson::lesson::lesson:

Sit this one out mate, it's going to get worse before it gets better.

If I could be bothered, I could dig out the 2 or 3 posts I've made in General Chat in the last few years advising first time buyers to keep the hell out of property as it was about to go seriously pear-shaped. I seem to recall most of this fell on deaf ears at the time *sigh*

Although it's very bearish, I'd suggest poking your nose around in House price news, information and discussion - HousePriceCrash.co.uk, and listening to the predictions there.
"Bearish"?, biased more like, probably another of those Tory fronts like the taxpayers alliance. Looks like they pulled the post about there being a mortgage backlog straightaway.
 

Yandros

Novice Member
"Bearish"?, biased more like, probably another of those Tory fronts like the taxpayers alliance. Looks like they pulled the post about there being a mortgage backlog straightaway.
Oh, unashamedly biased, but not a Tory front I can assure you. I've been reading it for years and they're extremely anti-establishment, anti-VI (vested interests) but have no particular political persuasion. Ok, there a lot of angry disenfranchised people there, but if you take this as a given when reading, it's a good news source chewed over by some pretty clued up folks.

For example, they predicted the Icelandic collapse 6 months before it happened last year.
 

andykn

Novice Member
Oh, unashamedly biased, but not a Tory front I can assure you. I've been reading it for years and they're extremely anti-establishment, anti-VI (vested interests) but have no particular political persuasion. Ok, there a lot of angry disenfranchised people there, but if you take this as a given when reading, it's a good news source chewed over by some pretty clued up folks.

For example, they predicted the Icelandic collapse 6 months before it happened last year.
If they've been called housepricecrash for more than two years, then fair enough. I've had a bit more of a look and they do appear to be fairly genuine.
 

Yandros

Novice Member
If they've been called housepricecrash for more than two years, then fair enough. I've had a bit more of a look and they do appear to be fairly genuine.
Btw, in case it wasn't clear, I was agreeing 100% with your advice to the OP. I joined housepricecrash in 2004 I think, when there were HUUUGE arguements between the bulls and bears (quite a few property speculators trolling). It became a rather bitter place as the bubble got worse and worse. Since the credit crunch they've proved to be interesting commentators. After all, these folks mostly don't want to see the system brought down (a few clearly do :eek:)...they just want a house.

One thing to watch out for - when the doommongers of housepricecrash.co.uk move from glee to fear (and there are threads along those lines)...buy tinned food and a shotgun!
 

la gran siete

Distinguished Member
From what I can make out some areas are perceived in very negative terms quite often unfailrly and there is little movement in them.Some properties are moving but they tend to be in certain areas near favoured schools for eg.The number of buy to lets has increased considerably, so that market may end up saturated although reposesions will increase demand to some extent.Most desirable Lets seem to be two bedroomed terraced or semi with parking facilities, near a favoured school and station.Single bedroom flats also go quickly but then there are annual maintenance costs running at 1000k + pa or potential negative issues with landlords .Flat freeholds are a nono as building societies are very reluctant to lend money for those thus making them more difficult to sell.
 

loz

Well-known Member
Apparently the number of mortgage approvals was up in December compared to November though, both in the UK and US
 

la gran siete

Distinguished Member
Apparently the number of mortgage approvals was up in December compared to November though, both in the UK and US
a small percentage yes but its still the second lowest for the year
 

Pack Dude

Active Member
Its always a good time to buy and provide some social housing for the proletariat. Sounds like you are in the lucky position to be able to provide a house to some homeless family. I'm sure with your policital views you would put the homeless before any capital gain.
 

chrisw

Well-known Member
A friend who is one of the top surveyors for a large building firm said that they are looking at September for starting to buy land - this is when they predict the bottom of the market will be.
 

ste v p

Novice Member
While people keep losing their jobs, I can only see the housing market going one way and that's down. The housing market is inextricably linked to the economic boom of the past 10-15 years. As long as the country is in recession, I personally can't see house prices starting to rise.

If you have a good deposit and are a keen negotiator, I would be tempted to look around for deals. But I would be offering well below asking price. Remember a houses price is not what it says on the price tag, it's what somebody is willing to pay for it and as few people are buying, a low offer won't necessarily be rejected if it's the only offer on the table.
 

Iccz

Member
Estate agents need to make sales, more so than ever as nobody is buying... for the obvious reasons... same with car sales etc...

I'd wait a bit longer if you can, as said in other posts keep an eye on the market, prices in areas / size of the house etc...
 

Steve N

Distinguished Member
A good tip is to watch the sales of new builds.
A friend of mine hung on and then bought the week before Christmas.
The plots he had been watching had been dormant for months then one or two starting selling.
He moved in as there was one he particularly wanted.

I'm pretty sure there will be further falls but probably not so dramatic now.
Also - Look at the Pound. The value of property will sustain or recover over the long term, but the slide in value of the pound is more unpredictable.

You'd have to be very lucky to guess exactly just when the market has bottomed out. Then you'll hit the mini bounce as everyone like yourself tries to buy as they see the market value increasing.
 

andykn

Novice Member
You'd have to be very lucky to guess exactly just when the market has bottomed out. Then you'll hit the mini bounce as everyone like yourself tries to buy as they see the market value increasing.
Because trying to guess the bottom relies on luck is why you shouldn't try and guess when the bottom is but wait for prices to rise. If you miss the bottom on the way up you may miss a couple of percentage points. Miss it on the way down and you could still be out another 10-15%.
 

mij

Well-known Member
If you need a home it is a good time.

If you want to cash in on others misfortunes, I would wait a bit longer.
 

joust

Well-known Member
Is this house for you, or is it a BTL?

If its for you, consider the cost of the current rent you're paying vs paying a mortgage (unless you're living with parents rent free:devil:) - it may be that you would pay a similar amount on a mrtgage as the rent you are paying. It would possibly then make much more sense to buy a house now (I'm assuming that you can reasonably afford it), than wasting another 6-9 months rent money.

However, a BTL, wait until the bottom and then buy!

Joust
 

booyaka

Moderator
well i'm buying!!!:D

Been looking for a while and decided when we saw a house recently that was on sale for about 3 months and now it has been reduced by £20k as the owners have purchased a new build and potential need to move quickly.

I offered another 5k under the new reduced asking price and they accepted. I just need to sell my house now!!!:eek:

A bit different to England but the housing market has been affected a little less up here in Scotland but prices still have dropped.

I'm not tied to buying this house as my get out clause is if i don't sell mine.

Yes the housing market has dropped and may continue to do so but the potential to buy the house we wanted with a large discount and under the actual valuation price of the property - we decided it was a good time to do so.

There probably is never a perfect time to buy or sell for that matter. Whatever feels right i guess!
 

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