Is the property market really cooling?

[VivaLeBeaver]

And what does it mean? That the price rises will just come to a halt or that there will be a crash? I know interest rates are meant to rise next year but at the minute locally prices still seem to be going up, though not as bonkers as London.

I've had an offer accepted and am waiting for it all to go through. Am getting cold feet and worrying now I've bought at the top of the market.

I agree with that 100%. Its false wealth. Anyhow, the market is definitely cooling in London. Lots of properties staying on the market and many have reduced asking prices. The days of 20 couples at an open day and offers over asking after one viewing seem to be well and truly over

We bought our last house at the top of the market last time, in 2007. House prices round us went right down, but had risen again and when we sold it last year, we got £2k more than we paid for it. Not a big rise at all, but shows that the market does rise again. We won't be moving from our new house until we are really old, so even if prices drop again, we are confident they will have gone up by the time we need to move into our retirement flat.