Don't panic Captain Mainwaring!! Here in Yorkshire, we're on a fairly even keel and, despite media cautions, the market is pretty stable as the regional economy is solid.
What you are doing is clearly a gamble, but if you enter into it with this in mind, you'll be aware of the risks. One option would be to let to buy - to use the income from rental on the current house to fund purchase of the next.
As you know, houses are only worth what people are prepared to pay so, if you've over-valued your current property watch out! Predictably, everything comes down to location so, if you're in a rising part of Halifax chances are the values will hold - if not grow. Please remember that all comment on property prices must be seen in context - ie. in the context of individual areas. By this I mean that house prices in West Yorkshire might rise whilst a more general, national overview spells gloom and doom.
If you go to Square Foot Magazine you'll see more advice about regional house prices - or read my regular property column in the Yorkshire Post. Best of luck with the deals. Regards, Michele Andrew.
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