A question that we are being asked quite a lot at the moment is should I buy a house with all the uncertainty surrounding Brexit and house prices . In truth I would love to give you an easy answer but i’m afraid that its not that simple. The housing market moves on confidence, that means that when the economy is working well and people are confident about jobs and the market then they will tend to trade up. Conversely , if there is pessimism then people sit on their hands and don’t move which creates a squeeze on supply.
There have been many Brexit headlines about house prices that make for good soundbites such as “House prices could fall by 30% on a no deal scenario”. In truth, housing,like all other markets work on supply and demand. This means they would only fall by 30% if there was 30% less demand, less people moving to the UK , less people taking the plunge of moving from rented or Mum and Dads house .
This makes those drastic cuts seem unlikely, its quote simply unlikely that the demand for housing will fall by 30%. Demand on the housing stock has risen steadily for the past 30 years and its likely to continue to do so with the failure to build enough new houses coupled with a rising number of people wanting to get on the housing ladder.
So, in short, my answer to the question should I buy a house in 2019 is always yes … if you can afford it its always better to have your foot on the ladder rather then waiting for the next rung to come down to you. In the long run house prices will always go up. Take a look at our guides on how to spot a bargain and negotiating the best price for more advice.