Is it a good time to buy a property now or wait ?

dragon68

Not sure if I should invest it in property now or invest it in a fixed rate account for a year. If it is best to wait before buying a property, when do you reckon would be a good time to buy, one, two or three years time ?

TTMCMschine

When they've stopped falling would be the best time - get the absolute maximum for your money - but its impossible to predict when that will be.

PasturesNew

House prices are going down.

The time to buy is when you are saving less each month than house prices are increasing, as a minimum.

But beware the dead cat bounce.... when houses are falling there will come a point in the future when they appear to recover. Perhaps for 1-2 months (maybe spring bounce next year? Or a late summer flurry this year?). At this point you might become scared and rush in. But after this I'd expect them to continue to fall.

This is called the dead cat bounce ... because even a dead cat can bounce once.

Hold out as long as you are comfortable. e.g. 2010/2011 would seem fine. I am looking at 2011/2012 most likely.

Snooze

PasturesNew wrote: »

House prices are going down.

The time to buy is when you are saving less each month than house prices are increasing, as a minimum.

But beware the dead cat bounce.... when houses are falling there will come a point in the future when they appear to recover. Perhaps for 1-2 months (maybe spring bounce next year? Or a late summer flurry this year?). At this point you might become scared and rush in. But after this I'd expect them to continue to fall.

This is called the dead cat bounce ... because even a dead cat can bounce once.

Hold out as long as you are comfortable. e.g. 2010/2011 would seem fine. I am looking at 2011/2012 most likely.

I reckon 2012 ish too and if they manage to make it to 30% I'll be able to buy outright for the area I want and type of house. After that I won't care what the house prices do as I won't be moving again. Quite looking forward to it actually.

Rob