What do you think will happen with the property market?

[fluffygreenmonsterhoody]

We’re thinking about moving but unsure whether to go now. Houses in our area are selling within 2 weeks so we could sell ours no bother but prices on properties we’re looking at are pretty inflated.

Is the bottom about to fall out the market? Would we buy now and see the value crash?

It’s so hard to judge. What do you think will happen with the market. (Obviously hypothetical and nobody really knows...)

Hard to judge but we are renting and need to move somewhere. Prices seem to be jumping since we started the process

I think now more than ever with the prospect of future lockdowns people are looking to make their homes nicer if they can. With the exception of commuter towns, I think things could remain pretty strong for a while. And people moving out of Cities for rural living may still want to keep urban boltholes

We’re in a wee town outside of Edinburgh and the estate agent was saying they’d seen lots of people realising the benefits of gardens, so they’re moving slightly out of town to get more space. And that’s contributing to driving up demand / prices.

Oh for a crystal ball!

We’re in a similar situation to you op, I am loathe to buy now only for the market to drop in early 2021.
But then will it drop?? Who knows 🤷🏻‍♀️
I just sense that property prices are quite inflated at the moment .... I could be absolutely wrong though.
We’re just going to sit tight and hope for the best!

I've just sold and I'm going to wait and see what happens in the next 6 months, it feels like the market is a bit mad and over inflated at the moment.
I may get it wrong and be kicking myself. We got stuck during our sale because of Covid, when lockdown lifted we put it on the market again, we got 5 more offers but ended up sticking with our original buyers as they agreed to exchange within 2 weeks if we dropped the price by £20,000. At the time this seemed like a good idea as we were worried about prices dropping, however by the time we actually completed 8 weeks later prices have gone a bit crazy and I feel like we shouldn't have dropped the price.
However I can't believe this current market can continue, but who knows.

Surely it can’t continue... but when will it stop, or a gradual downturn begin..?

@fluffygreenmonsterhoody

Surely it can’t continue... but when will it stop, or a gradual downturn begin..?

Op, but that's what people are saying for 20 years! .. surly it can't keep going up.. but it does. Sometime prices go flat for a bit, when there is a bit of a scare like Brexit, covid.. but that's a blip and soon forgotten. My personal opinion is that you should buy when you need to and don't worry about it. You'll benefit like everyone else in few years time. 20k up or down want matter to you then.

Prices won't go down. We have growing demand for housing and the government continues to support inflated prices via schemes like Help To Buy and the stamp duty holiday.

Cities will remain too expensive for many but now opportunities for affordable housing elsewhere will disappear as more people move out but keep in investment property. This will widen the areas of unaffordability.

Houses around here are hugely inflated atm. They've gone up 100k since lockdown!!!!!! But houses are selling and going back on the market because people can't get mortgages. We need to move but I'm holding out and hopefully we'll see a slight deflation

I don’t think we’ve seen the full economic impact of Covid yet. And we could be facing a No Deal Brexit on top of that. Sadly, some people will lose their homes over the next few months and I do think prices will fall.

I’m also hoping to sell my current property and buy another, by the way. It wouldn’t feel good to sell my current property at a relatively low price, but as I’m hoping to upsize, I might gain overall.

Disclaimer - I did predict a previous fall in property prices, but many of my other predictions have been rubbish.