Best time to buy?

[FootyMcFooty]

For a first time buyer is there a better / best time to buy? Some times cheaper than others? More properties available at certain times of year etc?

No time is cheaper than others but you tend to see more properties come the spring

Yesterday.

Thanks, I feel like I’ve seen people saying take the house off the market now and re-list in Spring.

As a FTB, surely you just keep looking until "the" house comes along whether that be today, tomorrow, next week, next year etc......

True, just don’t want to start the process now and find no houses on the market until the spring and then AIP has run out etc.

1995!
Seriously though, it will vary from person to person. In general, prices are falling and this is likely to continue as the economy is deteriorating both in the UK and in many other countries. Having said that, it doesn't necessarily make it easier to buy as lenders tend to tighten lending during recessions. If one of my DC was considering buying, I would encourage them not to rush into it at present.

In general, research your market very carefully for several months, preferably longer, make sure you+/- your partner keep your jobs, look at your finances carefully, see a good broker to get an idea of what you can afford to borrow. I don't think any particular time of the year is necessarily better than another but there are always more properties on the market in Spring-Summer.

Just look around for now then, research a good broker, even a good solicitor. If you research now, you will understand more about your local market next year.

Start looking now and keep looking very hard.
Watch the market. Watch for reductions. Watch for houses returning to the market. You'll get to know who is really keen to sell, who might accept a lower offer because they already sold once and might have their eye on something.
Even if you don't find anything quickly, every day you're getting to know the market better.

Best time to buy is as soon as you are able to. Ignore anyone who tells you to wait for a dip. I bought in 2020 when everyone said that there was going to be a crash and it was a terrible time to buy.

More than 5 years later I’m still waiting to see that crash. Meanwhile I’ve paid off a quarter of my mortgage. The sooner you get on the ladder, the better.

Prices are dropping, can you wait a bit....I work one day a week in estate agents and nothing over 500k is shifting and some cheaper flats are now being revalued by buyers to get a better deal. no sign of interest rates dropping as inflation is still creeping up.

1995

Thanks everyone. We’ve just watching the market for a while. We didn’t expect to have the rest of the deposit for another 6 ish months so was assuming it would be spring / summer next year. We are just about there now and can’t decide if to see a broker now or wait until after Christmas / March time.

Historically, the peak number of listings will be found around March each year (watch the UK Property Market Stats Show on YT).

You may also be competing with the bulk of buyers at that time so go figure if that is "the best" time to buy. More choice certainly.

Pay attention to the Area Profile in Area360 to see what prices are doing in your target areas.

Have a dig around this thread (self-promotion!) to see if anything is useful for you in your search.

https://www.mumsnet.com/talk/property/4935470-tools-for-house-buyers

Good luck!

This is great. Thanks, will have a look through.

New year is a good time ... divorce applications rise significantly then and houses go on the market

So real haha.

In terms of times of the year, spring summer is usually good.

In terms of times this century...1980.

An AIP doesnt take long to get. You can start looking now and just see if anything comes up you like. Get a good mortgage advisor to give you an idea of what you can borrow.

The budget is really really sticking everyone. No one wants to buy or sell right now then be stuck with huge fees or capital gains bills.

Still it really doesnt hurt to look because also right now people are dropping prices like hot cakes so you may find a bargain