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Buy now or wait till BREXIT

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Comments

  • letsbetfair
    letsbetfair Posts: 958 Forumite
    First Anniversary Name Dropper First Post
    Crashy_Time wrote: »
    What is driving rising rents in Dundee?

    A lot of money has been spent on developing the centre (including the new V&A museum and waterfront development). A government agency is basing lots of new jobs here, there are lots of new hotels and tourism-related businesses, and there's also growth in the university and related businesses. There are more jobs in the city now and it is a more attractive place to live if you do work here. There's also speculative money recently starting to flow into the city in larger amounts - for example, flats being taken off the long-term rental market to use for Airbnb.

    I have no idea how a very chaotic Brexit would affect rents here - could cause a big crash and bring them down, or a devalued £ could make Dundee more attractive for tourists and speculators from abroad. I hope I'm wrong about rents continuing to rise - I want the city to stay affordable... From a personal point of view, though, I know I'm paying a below market rent here - so moving to a nicer place would mean I faced a significant rent rise for me, regardless of broader market trends.
  • lisyloo
    lisyloo Posts: 29,611 Forumite
    Name Dropper First Anniversary First Post
    I’m not trying to guess/time the market.
    Just signed rental contract for the next 14 months, so if prices change a small % doesn’t really matter, we have a level of security.
    Getting on with life and not trying to guess the unguessable (no one know what’s going to happen with brexit) seems to have worked well so far for me.

    The flat I’m selling for MIL is gett8ng close to exchange with every9ne keen to move and get on with their lives despite brexit.

    Seems to me that doing nothing whilst pontificating is the biggest risk.
    I do know people who declined to join a pension fund and then 20 years later they’ve not got round to it and missed out on a 6-figure sum.
  • 51mm5
    51mm5 Posts: 177 Forumite
    First Anniversary First Post Combo Breaker
    Halifax January House Price index - Shows house prices 2.2% up for December

    https://static.halifax.co.uk/assets/pdf/mortgages/pdf/December-2018-House-Price-Index.pdf
  • whyigetmorelikes
    whyigetmorelikes Posts: 44 Forumite
    First Post First Anniversary
    I got told today to go in the store room and get a long weight and a left handed screwdriver.
  • _CC_
    _CC_ Posts: 362 Forumite
    Don't feed the Trashy Time troll.


    No-one knows what the future holds.


    Buy a property when you can afford to do so and enjoy your new home.
  • whyigetmorelikes
    whyigetmorelikes Posts: 44 Forumite
    First Post First Anniversary
    CC could you clarify your reasons for attacking my personal character?
  • letsbetfair
    letsbetfair Posts: 958 Forumite
    First Anniversary Name Dropper First Post
    lisyloo wrote: »
    I’m not trying to guess/time the market.
    Just signed rental contract for the next 14 months, so if prices change a small % doesn’t really matter, we have a level of security.
    Getting on with life and not trying to guess the unguessable (no one know what’s going to happen with brexit) seems to have worked well so far.

    Yeah - if I knew prices were going to shoot up or plummet here I'd choose differently (in 5 year's time I might be wishing I'd stretched to a place costing £150k more or held off buying altogether). Buying now fits well for me, though, as does the house I'm buying.
  • whyigetmorelikes
    whyigetmorelikes Posts: 44 Forumite
    First Post First Anniversary
    On a more serious note I would say go for it! You can't predict what will happen. If you find a house I'd be tempted not to wait as you may run the risk of losing it or having to pay a higher price.
  • 51mm5
    51mm5 Posts: 177 Forumite
    First Anniversary First Post Combo Breaker
    Yes indeed, people always highlight the risks of buying but NOT buying brings its own risks.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    First Anniversary Name Dropper First Post Photogenic
    whyigetmorelikes wrote: »
    CC could you clarify your reasons for attacking my personal character?


    (s)he wasnt. That was a reference to the user "Crashy Time"
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