Paulie wrote: We are also looking at buying (first time buyers) and my heads spinning with all the different information being batted around. What makes you say it will be a good time to buy? The stamp duty waving?
As Paul88 said the rise in the LBTT threshold could save you a couple of grand depending on the purchase price, plus mortgage rates are lower now than recently so your repayments will be less than they could have been.
As Crackajack said it's difficult to say when is a good or bad time to buy property. The market is always changing and your circumstances can too so what's good for one person or one property may not be good for another person or property.
When there's uncertainty in the market (and over the economy as a whole, so that your future employment might be affected) in my opinion it's important not to overstretch yourself or overpay (easier said than done), things that might be a more calculated risk when the economy / market is booming.
Where are you looking at buying?
Trent wrote: I dont understand why people are questioning whether now is a good to time to buy? No stamp and lowest rates in the last decade.
If the property market drops in any significant way and we enter a recession and someone loses their job and can no longer cover their mortgage repayments they may be forced to sell and lose money. That is why some people are questioning whether it's a good time to buy. I'm not saying it's not (for some people) just that everyone has different circumstances.