Buying in Reading, U.K.

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olddoll

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My daughter has got a new job in Reading, U.K. She is considering buying a house there.

Any advice or information on the area would be much appreciated.
 
Parts of Reading are really nice, and it has great links to London/Heathrow, but it's a big place and parts have a very poor reputation for social disorder etc..

I can recommend Caversham, adjacent to reading, - more expensive I expect but worth it. My sister lives there, and I vist the area regualrly via work.
 
is she sure about how long she'll be there? Consider legal costs either end of a house purchase/sale, stamp duty etc.

I've just moved back after several years in London and sold in Jan 07' so I just scrapped in before the market took a tumble - I think most days of how gutted I'd be to have missed the boat and be stuck with the option of either selling at a loss or not being able to move home.

Is she planning on being there for several years at least? If not, then how about renting and having the flexibility to move if she discovers that Reading isn't for her.



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olddoll said:
My daughter has got a new job in Reading, U.K. She is considering buying a house there.

Any advice or information on the area would be much appreciated.
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House prices in the UK are falling at an accelerating and record rate. The best option for your daughter would be to rent for a while.
 
Duplex said:
House prices in the UK are falling at an accelerating and record rate. The best option for your daughter would be to rent for a while.
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this is excellent advice, a long and deep recession has just kicked off there (a bit like, er, here)

UK property prices are plummeting and show no sign of bottoming out any time soon, your daughter would save a fortune by renting. (I'd discuss whether this has any similarity to the Irish market but that would probably get me banned so I won't)
 
Kemo_Sabe said:
this is excellent advice, a long and deep recession has just kicked off there (a bit like, er, here)

UK property prices are plummeting and show no sign of bottoming out any time soon, your daughter would save a fortune by renting. (I'd discuss whether this has any similarity to the Irish market but that would probably get me banned so I won't)
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The UK is suffering a mortgage drought too and this is unlikely to improve in the near term. The outlook for the UK economy and UK house prices is grim indeed.
 
Many thanks for your replies.

My daughter has a mortgage on a one bed flat near Oxford. She is now working in Reading and wants to relocate there. She is having trouble selling her flat and it looks likely she will have to sell at a loss if she wants to move on. If she succeeds in selling her flat we have advised her to rent for a while to see if she likes the area and also to allow the market to bottom out.

Hopefully, she will take the advice on board !!
 
olddoll said:
Many thanks for your replies.

My daughter has a mortgage on a one bed flat near Oxford. She is now working in Reading and wants to relocate there. She is having trouble selling her flat and it looks likely she will have to sell at a loss if she wants to move on. If she succeeds in selling her flat we have advised her to rent for a while to see if she likes the area and also to allow the market to bottom out.

Hopefully, she will take the advice on board !!
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that's good advce olddoll, I hope your daughter takes it!
 
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