Alright guys, I have a question that maybe someone working in a Real Estate group or with any educated knowledge (no bullshit speculation please) can answer for me.
What do you think of the current housing market? Is buying a flat for +1million stirling at this point a wise investment? Can I see medium-long term returns? On the one hand it seems crazy that the market could climb any higher, on the other if I rent a place and find that property is worth twice as much in two years I might feel like a fool. So, any of you guys seen any specific forecasts for the next 5-10 years? Of course, long term ownership is nice, but if I can live there for two years and flip it three or five years later at a profit, that would be nice as well).
This is a serious question, I'm not talking about getting a mortgage or anything, simply cash for a flat/house now (quality over size..think south ken/mayfair) and getting a place that will maintain value or even rise. What do you think?