People say it’s all negative talk, but it’s reality. House prices are too high, first time buyers are out of the market, the plug is conituining to be pulled from the housing market.

It is quite clear what is happening in the housing market. Prices nearly trebled from 1997-2007; there is a correction taking place and the bottom will not be reached for some time yet.

If news reports filter to the media that there are ‘grass shots’ then these will inevitably come from those with vested interest in property and property gaining in value. As a buyer I would recommend that you wait at least another 6 months before you buy and even then you will still see a drop in house prices for another year or so. We have yet to see the market bottom out and remain flat, then will be the best time to buy.