Well, let me tell you how I see it.
1, property prices are definitely down compared to previous years
2, there are not as many buyers in the market today as there once was, and
3, lending rates are still more or less at an all time low
Now that translates to me to
1, why wouldn't you buy a stock while it is priced less than it has been for years
2, less competition simply means more opportunities for me, and
3, give me as much of that money as you can as there really is only one way that those rates are gonna go
These 3 ingredients equal
BUY PROPERTIES NOW
Now, I am not saying that they are at their lowest, but I do not believe that they have much further to go.
For those holding out for the downturn after leaving the EU, I've got news for you, it's just not gonna happen.
So what am I saying...
The downturn is now,
the lack of confidence is now,
the stamp duty increase is now,
the hijacking of the tax relief is now,
the access to cheap money is now,
the lack of competition is now,
I believe we are in a recession right now,
The time to buy is right now.....
If you are thinking of buying property in the UK then NOW is the time, and lock it into a 5 year fixed rate mortgage, this way you know exactly where you stand.
If rates go up, which is the only way they can go, then you are covered, and if the prices fall some more before the market inevitably takes a turn, then 5 years should be long enough for you to wait for that tide to ride.
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