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eobire

Buy Or Wait

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Hi All

Just a first post to see what the lie of the land is in the UK market at the moment. We are moving from Ireland to Hampshire and I think prices are a bit high. Will they fall further - there seems to be a buying spree at the moment - dead cat bounce perhaps? Having escaped the Irish falling market I dont want to catch a falling knife, however herself wants to buy.

Any advice welcome

Thanks

EOB

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There seems to be a lack of properties at the cheaper end of the market (but flats seem to be dropping still) and I think due to the large interest sellers don't need to drop their prices much.

If you don't need to move then I don't think there will be much harm in waiting until the autumn.

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We are definitely moving.....but renting for the first 6 months. I was looking at a 3 bed property valued at 225 but was bought in 2002 for 137.......my question really is will we see those prices again as I want to have a tiny mortgage. Thats what is happening in Dublin....there is an air of denial about what people can afford so arent dropping prices.

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Look at the Land Registry figures. It tells a slightly different story to the one being told by the mortgage companies. The only safe thing one can say is that the prices aren't falling quite as sharply as they were a few months back. That really is all that can be said. Unemployment is still rising. Even in the US unemployment is still going up markedly and usually the US is a weathervane for the rest of the world. I really can't see prices holding up under those economic conditions. Perhaps we are seeing some effects of the money that has been pumped in but that money may only have a short term effect.

I'm holding off through the Autumn and Winter. I suspect there's another 8 % or so to go. It's a guess. I could be very wrong but ultimately we all have to make our own decisions.

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Hi All

Just a first post to see what the lie of the land is in the UK market at the moment. We are moving from Ireland to Hampshire and I think prices are a bit high. Will they fall further - there seems to be a buying spree at the moment - dead cat bounce perhaps? Having escaped the Irish falling market I dont want to catch a falling knife, however herself wants to buy.

Any advice welcome

Thanks

EOB

Why not just look at houses that exactly meet all your criteria and put in offers that you are happy with, irrespective of the price on the sticker

I raise this because, unless you have very general/common criteria, you wont find many places to match them for sale at any one time

The worst that happens under this route is you waste time looking at houses and EAs are snotty to you

But you might gain information:

- on what exactly you want

- whats its really going to cost you

Just my opinion

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