Thoughts on the outlook of the housing market? Has my eye on a flat since the start of quarantine (in the US rn) and it’s still on the market just waiting for the chance the price goes down

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Difficult to say but it may seem sensible to go off the Bank of England forecast which is a 16% fall in prices.

Anyway, why wait? If a property has been on the market for 6 months just make an offer now at 15% below asking. I would.

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So it’s apparently been up for sale for a year and the owner lowered the price a bit before I came across it. But thank you for sharing this! Would you say this would apply to all properties regardless of location?

It’s too early to tell. Sales pricing data hasn’t been compiled by the Land Registry since lockdown started so we are not getting a true view of what has been happening to prices over the last few months. Agents are talking the market up but that is because their livelihoods depend on it - they are not an arbiter of the truth in this respect. I’d wait to see the impact of furlough ending in October on jobs. Not sure about location specifics but I’ve read prices in London are likely to be hit more than most. Good time to be a buyer i would think.

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