Q. I am about to near the end of my current tenancy on the apartment I am renting and have at last decided to buy. However, I am slightly concerned as the market appears to be running ahead of itself with prices climbing almost daily. Do you think I should hold off until next year as several friends and colleagues of mine are currently caught up in bidding wars in the process of trying to secure a property, or perhaps instead should I be stepping up my search in order that I don’t lose out?

A. That is the million dollar question! Do I jump on the bandwagon and buy now, or wait? And frankly if any of us knew the answer to that question or could predict the future of the property market, we could all hang up our hats and retire now! Having personally not seen a busier year in the Docklands property market since 2002 it’s always difficult to advise whether or not the market will level out or continue to grow. Right now however, we only have to look at the evidence around us to conclude that the market will continue to grow as it has been, well into the next year. Severe lack of stock has led to a sellers market, hence demand is out stripping supply therefore prices continue to rise and the situation of sealed bids seems to be a regular occurrence for many of us agents. Therefore, securing a property as quickly as possible would seem to be the order of the day. With the long term forecast looking so positive in terms of the Olympics, and news this week that the city Bonuses are set to be even bigger next year than they were this year I am sure that we all have a very exciting 2007 to look forward to. It would seem that buying sooner rather than later is the obvious choice considering the current market climate.