Best time to buy

[Deleted User]

Is NOW the best time to buy an house, or will prices become any cheaper?

david29dpo

No one knows!

zaphod_beeblebrox_2

Take a look at the first link to Moneyweek ..

http://www.moneyweek.com/investments/property/uk-house-prices-will-plummet-look-at-this-scary-chart-14664.aspx


http://www.stevemorgan.co.uk/webfiles/house_price_trend.bmp

[Deleted User]

Thank-you for that link 'ZB'

zaphod_beeblebrox_2

I'm not trying to be a doom and gloom merchant, only telling others whats being stated. I am also looking to buy (renting right now) but Im jittery about sitting in a property thats worth less in 2++ years time, just doing my own research

mark5

The best time to buy is when you see a house for sale you really like that would suit your needs and you can get it for a price your happy with.

Most ppl waiting for the bottom will hang on to save a bit more cash and miss it!

Running_Horse

You could ask on the house price forum, or for a more accurate assessment ask Mystic Meg.

Comyface

mark5 wrote: »

The best time to buy is when you see a house for sale you really like that would suit your needs and you can get it for a price your happy with.

Most ppl waiting for the bottom will hang on to save a bit more cash and miss it!

Totally agree. How do you know it's the bottom until prices go back up again, by which time you've missed it!

Make sure you can afford the payments and you're happy with the house and the area it's in. If then prices dip after you've bought, don't waste energy fretting about it, you're in a house you want to live in for a price you can afford. House value only matters if you can't afford the payments or you want to move, so pick somewhere you can live in for a few years.

besonders1

Why don't you just look for a nice house that you fancy in a year or so's time when prices are more stable rather than now and then you won't miss anything apart from negative equity. (what you've never looked at, you've never missed!)

alunharford

I've misplaced my crystal ball, so I can't be sure... but...
You can buy a future on the Halifax index average UK house price in June - currently you can buy at £153900 or sell at £150900. That would suggest that the people who have put their money where their mouth is think it will fall between 7K at 10K in the next 4 months.
Personally, I'm choosing not to buy a house.

LittleMissAspie

Two things that strongly suggest prices will continue to fall:

1. Mortgage approvals.
2. We're in a recession.