house prices are apparently falling quicker

carolt

True - fortunately for me, all the places I'm looking at fall nicely into this category, so have no choice but to reduce.

Kenny4315

Another good place to buy will be around the £190k to £200k, while the temporary Stamp Duty hold is still active, no SD up to £180k, think that goes on till September.

dervish

Dan: wrote: »

There was very little in the jobs section for my local newspaper this week. The biggest advert was for an estate agent looking to hire 3 new sales people.

straws

clutching

Harry_Powell

My girlfriend and me are looking to buy a place together but obviously want to get the best price possible, does anyone have an idea when prices will start to bottom out?

We rent an apartment at the moment but we're looking to move into a semi or possibly even a detached if pricess really tumble. As we're planning to start a family we want to buy as large a house as we can reasonably afford with the idea that we'll then be able to stay there for good, saving the moving costs that are incurred if you move up the ladder in a more traditional way.

Well, thats the plan anyway.

besonders1

does anyone have an idea when prices will start to bottom out?

Nobody knows for sure but I would it could take at least a year, I would imagine that you are more likely to get a repossession house or a forced sale at a cheaper price.

martinbuckley

If you are planning to stay there for good any fluctuation in future house prices will not affect you as you will not be selling, so as long as you can comfortably afford the mortgage on one wage then you will be ok.

whathavewedone

If I was looking to buy now I would hang on for at least another six months. If interest rates looked like they were heading upwards I would then start looking. I think the falls will start to slow soon so while we aren't at the bottom of the market yet we probably aren't too far off. My guess was Autumn 2010 but that was on the basis that the falls would start slowing this year which they don't appear to be at the moment (unless there is a lag in the LR figures).

Even if you don't buy right at the bottom if you have a big enough deposit to get a good long fixed rate you might save more money than buying right at the bottom of the market at a time when interest rates are going up up up and good fixed rates are nowhere to be seen. If you have a good deposit now there's no harm in looking around, putting in some cheeky offers on the basis that the market is still falling and see what happens. If you can't get a deal you're happy with walk away and carry on waiting.

Dithering Dad has started a thread about this elsewhere. I don't have a vested interest btw as I'm on a fixed rate which expires at the end of 2011 and I would love to believe that interest rates wouldn't be above 6% then but I just don't think they will be.

Then again when we fixed our mortgage in October 08 we were expecting interest rates to rocket because of the recent rises in food and fuel costs and thought we had a good deal at 5.6% :mad:

Dan:_4

dervish wrote: »

straws

clutching

.....Is it?

Dan:_4

whathavewedone wrote: »

Then again when we fixed our mortgage in October 08 we were expecting interest rates to rocket because of the recent rises in food and fuel costs and thought we had a good deal at 5.6% :mad:

5.6% is a good rate. I would be happy with that, as you don't need to worry if they suddenly shoot up.

whathavewedone

Well, not until December 2011...