Is 2024 The Worst Ever Time To Buy Property?

[@propertyaccelerator]

🔥 Get Access to the Property Accelerator Course HERE: property-accelerator.co.uk/fundamentals-of-property-investing/

[@rob8758]

We just agreed a deal on a property 40k under asking. Always tricky to know whether or not prices are going to plummet but we’re hoping it’s going a good decision. Particularly as we got full asking price for our current property.

[@propertyaccelerator]

Nice work and if you can add value you will create more of a buffer.

[@camcoolcam]

I haven't commented in a while - glad to see your channel is still growing james! If you come to Scotland I will be the first to sign up!!!

[@propertyaccelerator]

Thanks mate glad you are still here.

[@Dahni555]

With the lead time of exchange being so long and having a finite lifespan, I would never recommend trying to catch a falling knife (like that numpty with the pink & black channel) haha😂

[@propertyaccelerator]

👍

[@DjTango]

Petrol prices gone back up. Jobs vacancies are declining. For example the company superdry is considering reducing staff and stores. And yet people think house prices are gonna go up. Wake up and smell the coffee.

[@propertyaccelerator]

So if house prices drop its a good reason to buy. You want to buy when there are discounts.

[@bogdanbogdan3551]

Really appreciate your videos, but: you never mention about people who are first time buyers. Is 2024 a good time for them to buy?

[@propertyaccelerator]

Thanks - I think its a good year if you can find something you can do up and add value. I never suggest people to buy new builds they lose money.

[@speedbagwizard9880]

Ill be looking in the next few months just in case it doesn't crash, then ill get another one ore two if it does crash

[@propertyaccelerator]

Good idea.

[@nigelxavier883]

3 bed flat in Camberwell, London was on the market for £325k. Owner couldn't afford high interest rates. Estate agent had 4 viewings on Jan 26. It must have been sold on that day. Tenants' rent didn't cover the mortgage apparently.😩😩😩

[@whatsleft100]

I had to stop renting in Camberwell in 2019 when the rents were getting above £800 . Dread to think what it is now !

[@propertyaccelerator]

My local agent said they have had the best January in 5 years. Be interesting to see what that does for prices.

[@propertyaccelerator]

I bet almost double

[@nigelxavier883]

There are good bargains around London for sure. Another 3 bed flat for £325k, this one is near Loughborough Junction station, but only 64 m2. The one in Camberwell is around 78 m2. Interest rates for 30% deposit is around 4.55% I hope February also brings a few bargains for us throughout the country!

[@kompwter]

@james Nicholson, any thoughts on Aldershot as an investment in the housing market? There is a nice share of freehold apartment within our cash buyers budget. Trying to get a feel of the town economy & general development

[@propertyaccelerator]

Aldershot is good lots of people getting work from the army base so recession proof.

[@nsoul4296]

Hi James, 2024 could be a good time to buy, just don't overpay. I would say 2022 was the worst time to buy if you fixed for a short period. 👍

[@propertyaccelerator]

Exactly you get it.

[@CodenameKolibre]

You said “when the property is worth more “. But What if it’s worth less. What then? History tells us property prices fall in a recession. I would therefore argue you have recency bias. House price rises over the last few years have been a misallocation of cheap money and stimulus . Those cheap money days are never coming back. If you want to see how overpriced homes are try rebuying your own home now with your current salary and most of us would be priced out.

[@propertyaccelerator]

If you know how to add value to a house and buy below market value you will be fine. If you just bought a new build for example you could lose a fortune. Its about buying the right deal.

[@DazzyBoy-gr4em]

Gooday sport

[@propertyaccelerator]

Hey Dazzy