dunroving

I know there's a certain satisfaction from home ownership, but with the market as it is and mortgaging as it is, I would lean towards renting for a year or two if I were returning to the UK these days (unless you have enough cash to buy outright or get a small mortgage, in which case you could get a bargain).

Pauljarv

Coming from the US where there was a real crash I don't see prices going down here in anywhere near the way they did there. I see places near me selling for (in my opinion) prices that are crazily high.

dunroving

I think it is also very regional, though. Where I lived in NC, prices really didn't go up between 2001 and 2007, and subsequently really didn't go down between 2007 and now. Similarly, I know areas of the UK where house prices really didn't go up after 2004. The "extremes" in some US cities do seem to have been bigger than the "extremes" in the UK, though.

I read a statistic the other day that UK prices are currently about twice what they were in 2000 (adjusted for inflation, I think).

I do think there are certain areas of the UK, and certain types of properties, that are a good deal. Problem is, they often are in economically depressed areas (like South Wales, for example). There are some fantastic deals in Ireland too, but who wants to live in a ghost town with no infrastructure?

Pauljarv

Sadly I live in the south east and it appears as if there's someone somewhere who'll buy any house however high it's price.

Shame there weren't any in Boston when we were selling ours!

sallysimmons

So true. The 'crash' in the UK seems to be pretty minor compared to places like Nevada and California. Here in NY, prices have fallen about the same as the UK so we've been lucky so far.

UK housing prices are just bonkers. I live in a 5-bed house within half an hour of Manhattan and with a direct train into the city 5 minutes walk from the house. If I sold today, it would sell for about £425K - just imagine trying to get that house within half an hour of London for £400K!! I'd be lucky to get anything like it within half an hour of Leeds for that price.

Bijilo123

Please don't misinterpret my question - it was rhetorical and not a condemnation - I guess I would lie too - it is a risk and I am really glad that I don't personally have this dilemma to deal with.