2nd time buyer

Thanks for the advice. Didn't realise I hadn't posted it to the regional forum but have done this now.

I have been following this forum for some months but this is my first post. I would be grateful for advice/comments in relation to the correct timing of buying a house in Belfast (preferably the BT9 area or thereabouts). By way of background I bought my first house in 2003. For various reasons I rented the house out shortly after this. The house is still being let and I am now hoping to buy a second house (I would prefer to sell the first house but wouldn't even attempt to sell it in the current climate so am happy to hold on to it for the medium/long term). A few months ago, I remortgaged this house and as a result have around £25k to put towards the purchase of a second house). All in all, I should ultimately be able to buy a house around the £140k mark. I am happy to wait around 12 months in the hope that prices will fall as obviously I want to get the best deal possible. All constructive advice welcome!

I have been following this forum for some months but this is my first post. I would be grateful for advice/comments in relation to the correct timing of buying a house in Belfast (preferably the BT9 area or thereabouts). By way of background I bought my first house in 2003. For various reasons I rented the house out shortly after this. The house is still being let and I am now hoping to buy a second house (I would prefer to sell the first house but wouldn't even attempt to sell it in the current climate so am happy to hold on to it for the medium/long term). A few months ago, I remortgaged this house and as a result have around £25k to put towards the purchase of a second house). All in all, I should ultimately be able to buy a house around the £140k mark. I am happy to wait around 12 months in the hope that prices will fall as obviously I want to get the best deal possible. All constructive advice welcome!