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Planning to downsize in a couple of years - house prices?

(11 Posts)
NigellasGuest Tue 04-Feb-14 15:50:20

We are currently living a couple of miles from a station from which it takes 30 minutes to Central London. We really want to move to the countryside, thinking of Shropshire, Worcestershire.

We can't go yet, realistically, but if we wait 2 more years when it would be more practical for us to sell, would house prices have changed to disadvantage us? I know nobody has a crystal ball but I'm not aware of the comings and goings with houseprices, it's only now that we feel the need to move that I'm starting to worry about it! or perhaps it could be in our favour to wait?

HaveToWearHeels Tue 04-Feb-14 16:16:01

Like you say "crystal ball". I would say house prices will not go against you in the next three years. I think they will continue to rise and then start to level off when interest rates start to rise. If you are worried could you sell now and rent until the big move ?

specialsubject Tue 04-Feb-14 16:22:34

am I you? :-) Did just this.

Prices in Shropshire are stable, down quite a lot from the 2006-2007 peak. Sales are quite hard work in some areas, average time to sell is almost a year for out-of-town properties (which doesn't mean middle of nowhere).

for the distance, sell and then rent. With that and your London funds in your pocket, you'll be sorted.

NigellasGuest Tue 04-Feb-14 16:46:26

how long ago did you move out, Special?
oh dear, the idea of renting doesn't appeal at all - two moves instead of one! but I guess it could make sense as we would be in a good position. However, as I said, we would be downsizing so it would mean no mortgage needed so presumably that's almost as good a position?

Beastofburden Tue 04-Feb-14 16:48:47

Hmmm I dont know about selling and renting. if it takes a year to find the right place you have lost out on a year of property price rises where you are. After all, if you are moving into Shropshire etc then you are going into a slower market, but the market you are leaving behind is faster.

RCheshire Tue 04-Feb-14 19:10:47

For what it's worth (not a lot) we are making mortgage decisions based on an assumption that interest rates will start to rise ~18 months from now. Of course house prices have an inverse relationship with IRs and current house prices are held up by current rates.

NigellasGuest Tue 04-Feb-14 20:01:19

So if interest rates go up, house prices go down, RCheshire?
I thought recently we've had low interest rates and a stagnant property market.. sorry I'm probably being a bit dim about this?

Beast I like what you're saying, fits in with what would suit me!

mrscog Tue 04-Feb-14 20:05:48

Can't help with house prices but as a Worcestershirean I say come here it's brilliant!!!!

NigellasGuest Wed 05-Feb-14 10:08:51

is it correct to say you get more for your money in Shropshire that Worcestershire?

NigellasGuest Wed 05-Feb-14 10:09:01

*than

mrscog Wed 05-Feb-14 10:37:47

I'm not sure Nigellasg you get a lot more for your money in diff parts of Worcs - North tends to be more £££ than west/south and the east parts near Syratford and the Cotswolds also soon more £££.

Shropshire is also lovely though - I have relatives in Bridgnorth and I'm always a bit envious!

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