Advised to pull out of sale due to banking crisis?

[Alli]

We are on the verge of purchasing a house in Dublin. Have spent a few days in the UK and family practically begging us not to go through with sale, due to the NAMA media etc.

Were going to sell the UK property we have, as it's small and not worth a lot, and a bit of a hassle to rent. We never set out to be landlords. Family now begging us to hold the UK one and not buy in Ireland.

Am I allowed to ask this question on this site? Really don't know what to do and seeking advice of some sort...?

 

[aristotle]

If I was you I would not purchase due to my opinion on where house prices are going. Why do you want to buy, you can always rent?

If you do want to buy then don't let NAMA put you off. Its not going to have any affect directly on you buying a house. But its a good probability that variable rate mortgages will continue to increase over the next few months\years on top of whatever ECB increases are comming.

 

[Brendan Burgess]

You are indirectly asking about property prices in Ireland and this is not allowed on Askaboutmoney.

In reality, no one knows whether house prices in Ireland (or the UK, for that matter) will rise or fall from their current level.

The future direction of Irish property prices is discussed on many other websites.



Brendan