Tangoed Works
Im 23 and am about to buy my first property. Going to be buying to let. Ive worked as a professional letting agent in London now for the last 3 years so have identified numerous trends. Those who say there is going to be a house price crash need to look at the reality and not be led into the governments scare mongering tactics(this is exactly what they want you to believe, as the more people that do, will have the knock on effect of cooling the housing market down).
The reason why property is such a sound investment is because over the medium to long term, property has always risen. Even if there is a house price crash, your still going to be living in the property. The only way this will effect you is if you are buying and selling at the time. The UK is a small island and the amount of new labour coming to work over here is immense. Everyone needs somewhere to live!
The shift is clear, since the redevelopment of the Docklands (10 years ago pretty much a dump), prices have risen so much that lots of people cant afford to rent or buy there. This in turn increasing surrounding property area prices as demand increases.
It has been shown over and over that in times of high interest rates people tend to rent more, and when interest rates are lower the demand shifts to buying. You simply cannot lose anything from buying a property. Just make sure you dont overstretch your self with mortage payments and remember that even the smallest interest rate rise can effect you payment significantly.
Long and short! Get rid of the CUP for a decent price (you can always buy another).
The reason why property is such a sound investment is because over the medium to long term, property has always risen. Even if there is a house price crash, your still going to be living in the property. The only way this will effect you is if you are buying and selling at the time. The UK is a small island and the amount of new labour coming to work over here is immense. Everyone needs somewhere to live!
The shift is clear, since the redevelopment of the Docklands (10 years ago pretty much a dump), prices have risen so much that lots of people cant afford to rent or buy there. This in turn increasing surrounding property area prices as demand increases.
It has been shown over and over that in times of high interest rates people tend to rent more, and when interest rates are lower the demand shifts to buying. You simply cannot lose anything from buying a property. Just make sure you dont overstretch your self with mortage payments and remember that even the smallest interest rate rise can effect you payment significantly.
Long and short! Get rid of the CUP for a decent price (you can always buy another).
