Should You Buy a House Now, Or Wait Until After The Election?

T&C's apply

Should you buy a house now with inflation rates and a high bank of england bank rate or should you wait until a crash is going to happen in the property market. We explore data from Rightmove, Zoopla and more to understand what's happening in the market and get behind the headlines so you understand the reality of interest rates, houses and more.

🏡 My All-in-One Property Deal Analyser

—---
🤑 The Finance Apps I Use:
Get 12,000 free points with a no monthly fee American Express Rewards Credit Card

Vanguard
—--

🧠 MY FREE COURSES

—--

MY GEAR

MY SOFTWARE

STAY CONNECTED

WHO AM I:
I'm Matt, a senior product manager and property investor working Remotely for a VC-backed tech startup. I make videos about money, investing, tech and productively building a business.

GET IN TOUCH / BUSINESS:
If you’d like to talk, I’d love to hear from you. DM @mattbrighton_ on Instagram and I'll happily get back to you!

PS: Some of the links in this description are affiliate links that I get a small 'thank you' from, to help fund this channel. It also means you can get awesome deals with my affiliate partners! 😁

[manjeetgill]

The best time to buy a house is always 5yrs ago

[paulsmith]

Anybody hoping for a crash like 2008/09 will be disappointed as there is a small correction going on currently. The big issue is that the wealthy class of society are currently earning higher interest on their savings. When interest rates start to drop they will buy more assets e.g houses and demand will drive up prices again I’m afraid. Until housebuilders are regulated properly and planning policy’s reformed to build enough houses then the market will ultimately & depressingly get worse for mortgaged buyers.

[tmcd]

Estate agents overvaluing properties is a big part of the problem.

[missdiamar]

If you pay rent.. any purchase of a mid priced house will be beneficial.

At least you'll gain some equity by the end of your fixed term. With rental - you just waste £12k-£24k per year paying someone else's mortgage.. 🤷🏻‍♀️

There's so many variables to think of.. but if you want to buy, just buy..

[Ruffest]

I bought my house this year moving out of rented. 205k got a 4.5% and the house next door to me was for rent at the same cost as my mortgage. Rent will always prop up house prices. There's 1 property to rent in my village now.

[MurphyOCP-]

In my experience it’s never a good or bad time to buy a house, just get on the ladder when you can.

[Scottweeier]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Natalie Strayer.

[DanRobards]

I have £15k saved. £24k salary. Live on the south coast (with the parents fortunately).
I have no choice but to wait. When I do buy I'll still have to move at least 50mi from my family to get anything affordable.

[marcoaguiar]

I think you should wait for 3d printed houses of under 50k

[gaspode]

Inflation falling 😂 go to shop and check prices 10-20 % up every 6 months

[MarlonKingShow]

Agreed, estate agents know very little, seems supply and demand means they can take a huge cut for doing very little. Most in South East are charging £6k+ for selling fee then some asking for additional 10% for sales above asking price and some then saying that price didn't include vat. Its a joke, for doing very little

[Natta]

When i was looking for a house in 2020-2022 which was the pinnicle of the crazy house boom, estate agents were so rude, treated you like a number and the agents who showed me round were agency workers who knew nothing aboit the house and had a sheet of paper. It was an awful time. I finally got my house at end of 2022 (the worst time i know) but i compromised on area and size and payed a higher interest rate but i budgeted this in as i out a higher deposit down. Theres never a perfect time to buy, becayse those who bought 350-400k houses on a 2% rate mortgage meant massive hikes in payments after their fixes ran out! Just save save save and be reasonable and never overpay! Houses are still in demand, so there won't be a crash because people still need a decent place to live and raise a family. City apartments aren't feasible or secure.

[ApexCypher_]

Did he say the FCA were giving banks a hard time? 🤣🤣🤣
The people who work at the FCA used to work at banks and vice versa. It’s a cartel. 🤣🤣🤣

[djnorthmore]

I’m so glad I done a 5 year fixed in 2021 at a mad 1.49%. Fingers crossed by the time it’s due it’ll come down.

[mumihp]

We are in the process of buying. We got the house for a great price. On the same road... A another house Sold for £50k more, but the sellers had to reduce the house. We secured a rate on 4.97%, interest rates is falling and we are buying now as we have avoided getting into a bidding war. While the interest rates are high, it atleast prevents bidding wars I have seen. People can wait for the market to crash but can't see that happening....

[funkbx]

Some people are waiting for affordable houses to be built or thinking of moving out of rip off Britain. Wages have increased, but so has the cost of everything else. If wages increased the same as utilities, we would all likely build our own homes with the extra cash. The current matchboxes are not worthy.

[ryuhoshi]

Prices are still too high despite seeing falls of 200-300k on properties that were once valued at £1m

[davidowen]

House prices will rise significantly over the next five years for definite!

How can i know this? Because i build the bloody things. New building regs including heat pumps, solar etc mean our build cost are up by 22% over the last 18 months. The worst part of the regs is the increased labour cost because the clowns in charge have never built a house and just dont understand the mechanics of things like full fill cavity rigid insulation. If new builds increase the used market will follow.

Just try asking a self build wannabe how much they are quoted for their project. Add in the land cost and self build has all but disappeared. The only way is up.

[dtz]

Garys economics youtube channel thinks house prices are going to shoot up as soon as interest rates start falling. He makes good arguments for it.

[BeeChomper]

As long as you can deal with the monthly mortgage payments, buy now. Interest rates will fall back down to close to pre-pandemic levels and house prices will increase aggressively in line with that fall, as the rich move their COVID savings from savings accounts into real assets.

House prices likely won't ever fall as long as financial inequality within societies continues to increase