So do you think the property market has bottomed out? Please vote, it only takes a minute!

[sylar]

We've been "off the ladder" for the past 18 months and are now thinking about buying again. Very hesitant given the dramatically different reports in the media - BBC and Times constantly saying we''ve hit the bottom, others saying this can't possibly be true given we're still in a recession.

What do you think?

[NotanOtter]

well my house dropped 120k on zoopla and it has re - gained 70k of that

[1dilemma]

no way

we have big tax rises coming and really big public sector cuts too together with rising unemployment

interest rates have to go up

this is a spring bounce happened every year in last crash

our economy is built on sand

zoopla is interesting it's quoting a value of 360,000 for houses with asking price of 500,000 near here (can't comment on whether they've been down then up I havn't looked at it enough)

[Speckledeggy]

As we want to buy, I'd like to think the current resurrection of the property market is nothing more than a mere blip.

It's pretty certain we're going to have a new Government within 18 months and public sector spending cuts are a definite which again mean more job losses. The outlook isn't great.

Mind you, every time a house sells around here another similar one comes on for £10k more. It does my head in!

[stuffitlllama]

no, more falls in the US, i think this is a dead cat bounce

[fruitstick]

Dh and I have nightly arguments about this. We sold at the beginning of this year which looks like the very bottom of the market. We are now paying a fortune in rent. DH thinks we should buy now, even though there is NOTHING on the market that is suitable .

I keep telling him to hang on for prices to drop.

However, he wanted to put the house on the market in 2007 and I said no, we had to wait until I was pregnant so I am very much on the back foot

[AlderTree]

Bad Luck fruitstick. DH keeps moaning about how little our place has risen in value compared to other areas nearby, therefore we should have bought somewhere else or moved sooner. My theory is the house didn't go up in value too drastically so it hasn't fallen as drastically as others as it isn't too bad.

Question to the OP are you genuinely discussing the market or is the real question should I buy now or not?

[toja555]

In my area, South London, there is very limited choice of houses (reasonably priced houses). The ones on the market are selling close to asking price. I think it will still be some variations in the housing market, but we should exclude London as the least-recession affected place.

[bigstripeytiger]

Where I live the market has been picking up for the last few months.

Flats seem to be slow to shift, but family houses are selling reasonably quickly now.