There are two sides to every story and this question has two possible answers, yes or no. The problem is that everybody has different opinions on the matter and so there is no definitive answer to give potential property buyers.
The housing market continues to dip up and down and for periods of time has remained stagnate so it is increasingly difficult to give investors a straightforward answer. Interest rates, admittedly are at an all time low and on one hand the market does remain volatile but on the other hand, property prices are incredibly low.
Many homeowners wanting to move have seen their properties sit motionless on the market for a year or more and so are willing to sell at incredibly low prices, this being said a bargain might be more tempting to go for when really a property you want to come home deserves careful consideration and should be bought based on logical reasons rather than low cost alone.
There is also the growing problem of unavailable mortgages, many first time buyers have the right salaries and money to cover a deposit but are still being deemed unable to maintain a mortgage and banks are no longer taking risks. Personal circumstance will very much determine your ability to buy in 2011 and the more secure you can make yourself the better your chances are.
The recession gripped the country and although the worst appears to have past we believe the repercussions of it will be felt for years to come. If you are selling a property consider taking it off the market unless a sale no matter low is absolutely necessary. Buying is your decision. If you are 100% certain and secure than strike while prices are low and you may thank yourself in the future.
Property will always remain a great investment that appeals to a lot of appeal, we suggest doing your research thoroughly and getting all the facts before you make a decision.
