Is this the right or wrong time to buy a house?

[nick2]

Like RichD said, in that situation you would do what is best for your family, not your bank balance, or your possition on the hallowed property ladder. You would rent out your small flat and put the money towards renting a larger place somewhere cheaper, I'm assuming the mother would have some kind of income from somewhere which would help pay for the child.

[jimmy]

Just found this,

 

http://www.parkerchris.pwp.blueyonder.co.uk/vocationvocationvocation.html

 

Thought some of you might like it

[ceevee]

Hi all

What are your thoughts on the apparent housing bubble?

Do you think there will be a full on crash or just a stagnant market for a while?

From what I've seen it seems evident that the tide has turned in Sheffield and it's now a buyers' market, but will prices start to slide?

Is it specific to area even?

 

CeeVee

[neeeeeeeeeek]

Hard to tell, friend is looking at a flat in the Riverside complex, 2 bed, £120k It already has an offer of the asking price.

[ceevee]

Thats quite surprising. I would have thought the newbuild city living apartments would have been the first to slide!

[jimso999]

Hmmm, not always the case. Im in Kent (and looking to buy in Sheffield). Down here, new builds are a law unto themselves.

 

I have a two bed terraced house on the market for £150k. Built 1982, fully refurbished to very high spec. I know Im asking top money but, new builds just around the corner are going for £160k+ for what is essentially, a similar property. My property has attracted very little interest.

[motherof2]

do not believe there will be a market crash, i feel too many people/financial institutes got their fingers burnt in the crash of the early 80s. What has happened now is a levelling out. Last year properties were being sold for 20k over their asking price, however now the market has reached its peak and properties are being sold for the asking price. Last years activities could not carry on for very long as first time buyers would never be able to afford anything and without them no one could ever move. The situation in the early 80s resulted in alot of people being in negative equity, there is no sign of that happening now.

[ceevee]

Jimso,

Do you not think that it's because a slide may have started that interest is low?

How are those newbuilds selling?

 

Motherof2 you may be right about the levelling, but it does concern me that we may be in the 'calm before the storm'.

[aussieboy]

For those willing to risk developing an obsession, check out:

 

http://www.housepricecrash.co.uk

[samc]

I think properties in desirable areas will continue to rise. If there is a slump they might stay the same price but I doubt if they would dramatically fall.

 

I reckon properties built pre-1960's that are well maintained will be of more value than the newer builds. Older properties are built more soundly and to last, they are more spacious and have lots more character. Alot of the inner city apartment blocks will look shoddy in 25 yrs time as they are not designed on a permanent basis but have a life span of around 25-30 yrs.