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How will the market go in the following 6 months

Hello I am confident that the market will be pretty poor in the following 6 months due to the global crisis. I am a first time buyer and I am eagerly waiting for the high prices to come down to more reasonable levels. In fact I have seen approximately 20% price drops in the last 6 months. Will this continue? and how much more devaluation is to be expected?

Asked on Oct 17 2011, House Prices in Nottingham | Report content

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  • Personally, I feel the market will continue to rise as it has down for the past 100 years. It will of course have its peaks and troughs, but it will always rise, a very simple case of supply and demand.

    Answered on Oct 17 2011, Report content
  • I agree with above. And if you would struggle to buy your first home at the moment, I think it is safe to say prices may fall a little further in the next few months, or at least the sale of property will slow and more home owners who have to move, will take a little less in order to do so. But if you can afford to get on the property ladder and are in it for the long term, then you are one of the lucky ones. Owning your own home is still one of the best investments for your future, prices will inevitably rise in time. If it helps any, we own our own home and were a little frightened when we bought our first home as prices were falling at the time. We didn’t borrow beyond what we could afford, we were fortunate enough to get on the ladder when we did. In time people will say the same thing about buying property right now. Even those who bought property in 2007 might one day be sitting in a paid for home which has increased in value significantly. It is all about being able to afford what you have and being in it for the long term. Best of luck.

    Answered on Oct 17 2011, Report content
  • Well I bought my umteenth house in 2005. It was on the market at 180k, I bought it at 146k, went on the mkt 2yrs after I'd bought it at 195k. It's now still in the mkt 3yrs later at 135k. I've seen all properties dropping in price and I've been offered much less, I can't see the market picking up in next 12/18mnths the way the economy is going!

    Answered on Nov 5 2011, Report content

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