Sorry I realise no one can exactly predict the house market but a discussion would be very much welcomed!
Currently saving living at dps parents (very small external oathouse) paying rent but at a good rate. We have been here for 2 years saving... believe me it is not as glam as it sounds but we are ever so grateful to be in this position to enable us to save.
We are at the point now where we can afford to put a 15% deposit down for a 2 or 3 bed house in the NW. Potentially 20% depending on the price of the house.
We have been looking daily but honestly prices are still pretty steep and there definitely has not been in a drop in prices since lockdown began. I have found the market has been quite slow and not a lot on offer.
I guess we are in a bit of a predicament, were getting oh so very inpatient and sometimes tempted to buy a house that I guess isn't wow to us but is a house, that we own. I know this is not a smart move, my impatience is getting the better of me!
I also wonder whether in 6 months time prices may drop which would enable us to buy more of a 'wow' house ... not wow as in mansion but I guess more of a long term stable family house where we can see ourselves staying long term. (An optimistic drop of 10% would do wonders!)
I imagine at the moment the stamp duty removal will be keeping prices from dropping.
I guess I am looking for advice. Do you think the market will fall or stagnate? If you were in my position would you hold fire?
We are not desperate to move but we have waited SO long for this we just want our own home!
Any other buyers or sellers in the same boat as us? What is your situation?