We all saw how unstable the UK property market became during the global financial meltdown. Prices slumped as fewer and fewer people had the confidence to make purchases. That meant there was little point in trying to sell houses as you’d struggle to make a profit. However, the situation has changed over the last twelve months, and so we thought it was about time to make an assessment of the market. While prices have started to rise, some people believe it signals the beginning of a bubble that is sure to burst in the near future. Most people want to know when the best time is to make a purchase, which is why we’re going to present you with some key information. The last thing you want is to buy a property and experience a negative return within only a few months.
Sometimes seeing a financial adviser simply isn’t enough. Buying a UK home requires serious investment, and it’s a big decision. The next time you’re having a psychic reading, make sure you ask about the future of the property market. You need all the help you can get.
Buying a property right now
So long as you’re very quick, buying a property now could be the best solutions to your issues. Prices are around 10.5% higher than they were a couple of years ago, but that is a good thing. As values continue to rise, your investment will become all the more lucrative. At the moment, we are at the start of a major incline. So, buying now and selling at some point within the next four years before the bubble bursts could help you to make lots of profits.
Buying a property in 2015
Next year looks set to be pretty similar to 2014 when it comes to the UK housing market. Opting to make a purchase at some point after Christmas is a great idea if you don’t have the time beforehand. You just don’t want to leave it too long. The average house price in the UK at the moment is just over £200,000. Experts predict that the figure could rise to £210,000 by the end of next year. So, the longer you leave it; the more you’ll pay for the same product.
Buying a property after 2015
The further you travel into the future; the less accurate predictions become. While insiders are claiming it will be more than five years until the housing bubble bursts, there are no guarantees. That means leaving it too long could be a bad move on your part. If the market crashes and prices come tumbling, you’ll get more space for your money. However, you’ll struggle to make a profit when the time comes around to sell. It all depends on what you want from the house. Presuming you’re happy living there for the rest of your life, everything should be fine. Even so; buying after 2015 could be a terrible move if you want to use the house as a stepping-stone to better things.
We hope you have learned a lot from this post, and that you are now ready to make the right moves at the right time. At the end of the day, it all comes down to what you want.