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This is such a hard one. None of us know how the property market is going to look in 5 years time. I think the thing to remember is that property is a long term investment. Gone are the days of buying something and selling it for a huge profit in a year or 2 years time. Now anyone who owns property is going to have to hold onto it to give it time to recover its value. I guess this may mean that decent properties for sale might shrivel up?
I'm currently saving and thinking about buying my first property next year. I think that as long as I save a big enough deposit and buy something I can easily afford then it should be ok. Although, all the "doom and gloomers" are making me a bit nervous!
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