Sales didn't improve yet again this quarter. Analysts are saying it's due to the Royal Wedding and people enjoying the sun but that smells of bullshit to me. Skeptics say that when you factor in all the repossessions and auctions the market is already in a slump.
I've been geekily reading the whole Guardian Money section today and it's grim reading. Banks offering 95% mortgages again at extortionate rates to try and bolster the market, 3 in 4 people expected to have to rent within 3 years taking the people renting in this country from 7% to nearer 20% (landlords have cottoned onto this and average rent in London has risen by 8% this year so far) and yet more schemes involving buying a percentage of your property to get one foot on the ladder.
What do you think. If you could afford to buy a place, would you?
Houses seem fairly stable in London where I am BUT only because there's a dearth of stuff out there I'd wager. With the stamp duty window ending soonish and almost everything within that being just 1 bed flats in London anyhow, would you buy or carry on throwing money down the drain and renting? Or is it not a waste but a way of saving yourself from potential financial meltdown?