Now Is The Time To Buy Property!

[bassboy76]

Buy now? You must be crazy, the UK property market still has a long way to fall.

[Ronny]

I work in finance also and totally agree here with Marius and bassboy76

[bassboy76]

Here's a prediction that I'll be backing with my own money. I'll be starting to buy property end of Q2 2009. Even then I'll still only be looking at auctions. End of Q3 2009 is when I'll start looking again in the estate agent's window. I would only buy something today if I could get it for less than 75% of a current RICS valuation. I think there is still at least a 20% drop in the market to be had before we approach the bottom.

[keeper1]

Hi Guys I am new to this forum.

I am looking to buy this year (Will try and get 20%-30% of rics val tho!).

I know prices are going to go down next year, but if i am looking to keep my properties (I will never sell) does it matter?

As they will surely go up over the next 5-10 years anyhow won't they?

Thanks guys

Keeper1

[Paul_MN]

That's fine, you guys wait.....the means there are more bargain properties for me to buy now

Like Keeper says if you do not plan on reselling then why wait? If the property stacks up and is a good investment then why wait and probably miss out on it?

How many other people are waiting until later this year to buy? Quite a few, which means if you wait you will face more competition and it will become harder to get the properties you want.

My advice is check the property stacks up and the rental return not only stacks up against the mortgage repayments but is also secure in that the demand for that type of property in that area is there.

Then, if it all works out buy now before someone else does.

Of course feel free to tell me which properties you are waiting to buy and Ill take the risk while the rest of you are sitting on the fence

[kaled00pro]

Accoring to an article from a UK sold house prices website property prices in the UK went down by nearly 10% last year.


Will we be seeing a further 10% reduction? or will it flatten out a little say a 4-5% decrease?

If i has cash for 25% deposits i would defo buy right now, rent it out for a few years then think of selling.

my 2 pence

[Ricky149]

Hi, I've just come across this forum and signed up to join in the interesting and informed discussions that are on here. I hope I can add something of interest. There has been some talk around that foreign buyers are eyeing up the UK as a good place to buy now. Low property prices together with weak pound against most other currencies make the UK particularly attractive for those outside the UK. I have been contacted by a large investment group looking to buy big, admittedly only at significant discounts but once these guys start buying it can be surprising how quickly things can turn around as everyone starts to perceive the bottom of the cycle has arrived. Remember, by the time you realise the bottom has been reached you have usually missed it!! Anyone any thoughts?

[henry_london]

I definitely think you're right, I've read foreign buyers represent 60% of buyers in London right now. Imagine sitting in NY and looking at the same property in London today, versus say 9 months ago? Double benefit: price falls in London + dollar much stronger = no brainer right now. Same thing if you've got some spare euros to invest

[mike]

mike here
buy buy buy
these rates are the best ever
i can get 10% return for all
its knowledge you need,not just the money?

[MarkSev]

Dear All, we've noticed an increase in land buying activity (thank goodness) after significant reductions in values dueing last year. Prudent developers and self builders who've sat out the market in 08 have now started to look seriously with a view to improved conditions in 2010. We have quite a number of enquires since the start of the new year and looking much more positive. Different from resale houses I guess, minimum 9mths build process before selling.