When is the best time to buy a house?

The best time to buy a house depends on various factors, such as your financial stability, market conditions, and personal situation. Generally, a good time to buy is when you can afford the down payment, secure a mortgage with favourable terms, and find a property that fits your needs and budget. 
Over the past few decades, the cost of homes has outpaced the average rise in earnings. In April 2021, the average cost of a home was 64 times more than the average UK home in January 1970, while wages are only 35.4 times higher now. Most renters that we spoke with were wondering if they’ll ever be able to buy their own home.
The most recent figures show that house prices in September 2023 were 0.5% lower than a year ago, with some predicting that high mortgage rates and economic uncertainty could result in house prices dropping by 5% over 2023. If this happens, it could be an incentive for people to get onto the ladder.

 It’s wise to keep an eye on the real estate market for trends and fluctuations to make an informed decision.