Any predictions on how London property prices will do through autumn/winter 2012?

(4 Posts)
crazyhead Sat 19-May-12 13:48:05

Just curious on people's experiences of looking for houses at the moment.

We're looking in leafy-ish bits of north London at 700-800 (very preferably near the lower end). Stuff seems to be priced aggressively but a lot is sticking/coming back on the market, and the economy doesn't feel great, does it? We're unsure whether to be fairly circumspect and wait and see until the autumn/winter, or to try for a couple of OK things now.

We are selling our flat, and conveyancing is underway, so waiting might involve renting/in-laws for a bit...

Obviously it is about finding a home we love etc etc, but the truth is that we have to expect some compromise in our price bracket, so we just want a fairly decent deal.

WWYD?

CogitoErgoSometimes Mon 21-May-12 07:48:42

I think, if you need to move house and you find one you like, don't worry about saving/losing a few thousand and trying to predict the housing market. It is generally a buyers' market so, if in doubt, make an offer below the asking price and see how it is received.

crazyhead Mon 21-May-12 09:29:42

Thank you! We're trying that tactic today. We haven't found the ideal home yet at all - I think we would be tempted to be more bullish if we do...

CogitoErgoSometimes Mon 21-May-12 09:46:12

I've bought three houses in my life, two on a rapidly rising market and one on a falling market. As long as you can afford the property and can build in a little wiggle-room in your budget for things like interest rate rises, emergency repairs etc., unless you're forced to sell up against your wishes, you will not lose out in the long-term.

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