House market - buying a house

[jonnyh]

Is it a good time to buy a house

[andy hughes]

This is very much a 'how long is a piece of string' question - there are so many variables: how much can you afford to spend, where are you buying, how big is the property, how popular is the area, and many more. At present, house prices are very high, and they may well fall in the future, good news if you delay, bad news if you're looking for a return on your investment. You must ask a few basic questions - can you afford a house, will it suit your needs more than a rented or bought apartment, and try to come to a decision that way. There really is no quick and easy answer, so you need to do some sums, and get some good advice - chat to a number of estate agents, and financial institutions, and see what they have to say.

[DannyG]

Given that house prices are currently on the increase, it is particularly an awful time to buy a house if you're a first time buyer. If you already have a home then obviously you have the clout of your mortgage, but you haven't got that if you're first time. Houses which not so long ago cost about 100 grand are now costing closer to 200 grand. The way it's going the market could collapse financially...