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How to decide when it’s the right time to buy a house?

Since the Autumn Enable’s IFA’s in Bishop’s Stortford have been following the news like many others about whether or not there will be a fall in house prices.  With Britain’s runaway housing market expected to at least take a dip this year as the combination of new mortgage rules and the threat of rising interest rates brings house prices down.  It might seem to many a good reason not to buy but many experts are saying ay the market is more complex than the headline figures may at first suggest.

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At the end of last year the Centre for Economics and Business Research (CERB) suggested that the UK housing market was at a “turning point” and the organisation expects 2015 to see 0.8 % decline in house prices.  In London the decline is expected to be even more substantial; according to CEBR, they may fall by as much as 2.6 %.

If there’s a chance that house prices are about to fall, it may seem risky to buy at what could be the peak of the market – but many experts advise that waiting in the hope of a serious drop in prices does not always pay off.

One reason for buying a house sooner rather than later is that it might prove to be a sound investment in the longer term even if prices fall next year. By 2019, house prices across the country are expected to grow by 30 per cent, with the greatest boom occurring in the south east of England, where 37% increases are forecast.  Housing market predictions do not always turn out to be correct, but demand is continuing to rise and there is no sign of a dramatic increase in the supply of new home, so house prices are likely to rise in the medium to long term. Enable’s Independent Financial Advisors can help you look at mortgages that work best for you.

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 – Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.

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