johnson363 Dec 2018 13:19
It is fine if you have an endless supply of cash to invest. Most do not so this idea seems pointless. When the market slows like this many change to cash and sit on the side lines. I have and am in no way tempted by what might seem a bargain. Four months ago I put in a cash offer for a new property which was empty. Today I am still no where near exchanging contracts. My current property has had two viewers in that period. Both made offers then withdrew them. Both had good reason to do so. They had both been severely hurt by job loss and property down turns in Oz. Our housing market has conked out. The local agents all say the same. The buy to let market has ceased to exist. Stamp duty, Universal credit not paying the landlords and tenants maxed out with debt. Very shortly I too will withdraw my offer and crawl back under my stone..