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buying house as first time buyer

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  • buying house as first time buyer

    dear all
    i am planning to invest in property as buying a house for self - first time buyer.
    recently there is a lot of news regards fall in house prices and decreased lending from lenders/banks and thus discouraging first time buyers as prices of property purchased now may not rise that much.

    so will i be wise to purchase house now?

    what are the chances of this current lull to pass away and house prices to start rising in the next few months?

    some say that if the prices are low now then it will be affordable or cheaper for a first time buyer.

    whats the best thing to do?

  • #2
    It doesn't look like property prices are going to do anything but move downwards over the next few months - even years.

    In addition, mortgage lenders are now far less likely to lend for a house purchase other than under strictly controlled criteria.

    Whether that impacts your decision to buy property is a decision entirely yours to make.


    • #3
      It is expected that there will be a downturn for the next 4 years and then stagnate and level off for around 2 years after that - Once house prices have reached a realistic price where normal people (keyworkers) can afford them.
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      WOW property <a href="http://www.wow-property.com">online estate agent</a> who <a href="http://www.wow-property.com">sell property online.</a>


      • #4
        Open any newspaper, and they all have one thing in common. Falling house prices. Trends develop over time, and usually take a few months to start showing up. A fall in house prices will slowly move through the markets. I wouldn't buy right now. Maybe in August.
        Government Authorised Property Real Estate Agents in Kefalonia, Greece.