Saturday, Apr 25, 2009
Is it time to get back into property?
Times: No
The housing market has certainly seen a significant improvement in sentiment since the beginning of this year.
“Now is the time to start buying — because most of the falls in price have happened,” says Yolande Barnes of Savills. Those who hang on, waiting for further falls, may be disappointed, she believes. In a year, getting hold of stock is going to be an issue.
Estate Agent David Horrowman says "If you are a first-time buyer, I would say buy now. I reckon prices will start to go up again.Increased longevity means we need more household units and the collapse of housebuilding for the last two years must lead to pent-up demand"
“I am quite optimistic that we are not far off the bottom of the market, and there are significant gains out there for those in a position to embrace the risks."
8 Comments
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1. crunchy said...
Is it time to get back into property?
The absurdity of that question is beyond profound.
Such is the world we live in now!
2. voiceofreason said...
No sh1t Sherlock ! Next from the Times.
Car salesroom staff say now is a great time to buy a new car.
Double glazing door to door salesmen say that now is the time to purchase new windows.
Butchers say now is the time to buy sausages....
What amazing surprises will they uncover next time they ask sales staff what the "news" is...
3. voiceofreason said...
Christmas is bad according to turkeys.
Now is the time to vote Tory according to the Tory party.
Gordon will win the next election says a BBC journalist ...
4. robh said...
Prices will crash say HPC bloggers :))
5. inflation is eating my savings said...
it is discomforting to hear someone suggesting it is necessary to buy a property to get on with one's life
6. An Bearin Bui said...
This article is such an obvious attempt to ramp the market, it's barely deserving of attention. One thing did strike me, however: Yolande Barnes advises that if a property had "adjusted" in price about 25% then it's probably worth buying. It's funny, because I don't disagree with her on that. If I could buy in my city for 25% off peak price, I would probably do that and accept the further 10-15% price fall that's due.
The real problem is that NO-ONE is dropping their price by 25%!!! Sellers are still in denial and only willing to accept a max of 5-10% off peak price. That's where the real problem is: if sellers don't get real soon then the market will just be stuck in limbo for years.
7. will said...
If we are over populated and over priced, I imagine many will leave the UK for more affordable countries.
8. will said...
V of R @ 2
Yes, car salesmen will tell you to buy, but what part exchange value will you get, and with estate agents telling us to buy, what price will you manage to get for your house? Many vendors still in denial where I live, a few realistic prices but most not budging in price and not selling. The longer we all sit on the sidelines, prices will have to fall.