When is a good time to buy UK Property?

James Greenwood, managing director of Stacks Property Search, explains how to recognise when you should buy property for purchasers in both London and the country.

Good news for buyers. London purchasers are in a much stronger position and have time to think and plan. And while the country market looks like it’s poised for some strong growth, there’s not yet a frenzy.

In London, vendors are beginning to accept that they’ve missed the top of the market and property is coming on at realistic levels.

This is a much more buyer-friendly time for the London and Country markets, and buyers should take advantage of the status quo.

The good news about a stable market is that buyers can make informed, sensible decisions. Buying property in a panic situation can lead to mistakes, and property mistakes are inevitably expensive. Careful research on values, proper analysis of the kind of property a buyer really needs, and an understanding of the pros and cons of a location, are all vital to a good buying decision. This of course is where a buying agent working on the purchaser’s behalf pays dividends.

Stacks advice for buying in the current market includes:

• Use more head than heart and don’t be rushed.
• Look at plenty of properties. The more you see, the better you’ll build up a full picture.
• Don’t underestimate the difficulty of getting finance, it’s getting harder and harder to secure a mortgage; and the process is becoming more and more protracted.
• Try not to rule things out. Keep an open mind and consider properties that could be adapted to suit your needs.
• Don’t be afraid to flaunt your assets. If you’ve got cash, you are a very attractive proposition, so make the most of your strong position.

Stacks Property Search & Acquisition, 01594 842880 / www.stacks.co.uk 

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• • For more information, jpgs and interviews, contact Amanda MacCaw, 01386 700068 / 07977 238175 / amanda@wildmaccaw.co.uk