Anyone else considering delaying a move?

[buddhasbelly]

We're currently looking but v little coming on the market in our area and properties still going well over asking.

We're now (along with everyone else) v concerned with the rising cost of living and what impact this will have on the housing market. But I don't know enough about economics/the market to have much of an insight.

We are currently renting at a v reasonable rate (very fortunate I know) would you consider delaying a move and or buy now but pay well over asking?

Sorry should say we're in Scotland in an area a lot of folk are relocating to, hence string offers over.

Buy asap. When the demand exceeds supply and interest rates are so low, house prices aren’t coming down. When we were recently looking there were over 40 people wanting to view each house and that’s just on the day it went to market. All these people have the funds ready and can afford the rising prices. It’s going to be a while yet until houses stagnate or dip in price as either credit has to become more expensive (unlikely as a recession looms and the government can’t afford the mega high rates of the 90s) or supply has to exceed demand (and there’s no sign of this at all)

That's incredibly useful thank you

As long as you are not going to move again for a long time and are not stretching yourselves up for it.

Great thank you. Feels like a Lindfield just now

If you buy now make sure whatever it is you future proof so if you need to stay there longer than planned you can.

All these people have the funds ready and can afford the rising prices.

it's obviously location specific but lots have people will be rushing to complete because mortgage offers will be expiring and the new deals aren't so great.