Is it a good time to buy?

As you would expect we always get asked by clients if it is a good time to buy or sell their property.

As you can see from the picture, data can be manipulated, it has been one of the key lessons we have learnt in this new era of “fake news”.

You can analyse the property market until your go blue in the face, but the true answer is…. It is only a good time when the finances make sense for you.

As a trader (in what seems a previous life) one lesson I remember was that you will NEVER be able to Buy at the lowest price and Sell at the highest.

Unless you are given a crystal ball, it is mathematically impossible. Not saying it hasn’t been done, but when it has, it is not from any advance technical analysis (which does help increase your chances) but potluck.

As a trader averaging the price you enter (buy) at and making sure the exit price (sell) average is higher is how good traders consistently make money.

How do we apply that to housing? You cant buy part of a house and then average in? How does it relate to property?

It relates in the way that once you find a property you like (for investment or to live in) you have to make sure the finances make sense for you.

Do you research, you have access to everything estate agents have access to, all the date is readily available thanks to the world wide web.

Valuations by agents are based on what has sold or let, data which you can find easily by a quick look over most of the portals. They also base it on what is in the current market, which guess what? Is also available for you to see. They don’t have some amazing software or algorithm working out valuations, it is an open and transparent market.

Note, marketing prices are sometimes over hyped and being prudent in property is always a good thing so any figures should be taken with a pinch of salt ensuring you have a buffer.

In conclusion

I am not saying the “experts don’t know anything” they know a lot BUT after listening to their interpretation of the data do you own research, you and only you know your personal circumstances, have your own analysis of the data based on your requirements.