Now Is The Time To Buy Property!

[Inprintimaging]

I think there are a few glimmerings of hope now, but I still think there is a way to go yet. Myself I'd be careful. You don't want to act too soon, or you could get stung badly. Companies are still laying off staff and going bankrupt. If you bought commercial property and then the tenant goes bust, you are in it, if you buy rental property and the tenant gets made redundant, you are also in trouble.

All I'd say is be careful. Don't rush in too soon untill you are sure this is at an end.

[iisark]

I think that the prices will go down next year as well.Atleast 5% more.

[Blinkers]

Hi Everyone,

I just found this forum and registered to view my thoughts. I am an Irish guy and I started buying property in Liverpool and Manchester about 6 years ago. the main reason for this was the high yields and low prices available compared to Ireland. Now with the downturn I can actually live from the excess rent due to the low interest rates. My theory is low cost with high yields and you can't go wrong but split between different properties so you can sell of a few if under pressure.. I am buying again anyway..hope I'm right!!!!!!!!

[Property Investment Leads]

Whether it's a good time to buy or not depends on your own strategy - are you a developer, investor, or trader? Are you looking for long term capital growth, pension, or rental income? You must have a strategy in place before you even think about buying... just my 2p.

[The Move Team]

Well I'm in the removal industry and I've seen an increase over recent months in people moving into bigger houses and exploiting the lower house prices! Dont know if this affects anyone here or not?

[Property Cashpoint]

Yeah I've been hearing from various friends that they have started to look around for bargains. I'm going to hang on a 5-6 more months, I think prices are going to continue to fall.

[AshfieldFOCUS.com]

While prices are coming down, it actually makes sense to upgrade. I can't explain it except with sample numbers...

25% drop in value...
1,000,000 less 25% = 750,000 (a drop of 250,000)
750,000 less 25% = 562,500 (a drop of 187,500)

So, upgrading, you are saving yourself 62,500. (You have to find 187,500 instead of 250,000).

Downgrading while prices going down is a loss.

[georgeharrison]

Hi,before taking a decision to purchase must be carefully examined, but not fast because prices fall and will continue to fall, wait at least 6-7 months.

[brian]

Originally Posted by georgeharrison

Hi,before taking a decision to purchase must be carefully examined, but not fast because prices fall and will continue to fall, wait at least 6-7 months.

Agreed - prices going low will always attract bargain hunters, but that doesn't mean to say bargain hunters wait for the bottom in prices.

If anything, the economic outlook is becoming increasingly more adverse.

[Slow Rambler]

Having sat in on property auctions at Carmarthen and Swansea every 2 months for the past year, I am convinced that now is a sensible time to selectively buy. I daresay we will see further price falls, but developers do now seem to be carefully picking up the best few properties.