You may think that now is the perfect time to buy a new home, but if you overlook current market trends, you could end up spending way over the odds for a house that, in a few months, could be much cheaper. Property markets around the world can change quickly, fluctuating depending on economic conditions, politics, supply and demand and many other factors.

A seller's market occurs when there's a shortage of homes compared to the number of people buying. A buyer's market is when there are more homes for sale than buyers. So, research the current state of the local housing market. A professional estate agent should also be able to advise on the best time to buy.

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