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11/03/2009
Don't wait for market to hit bottom, property buyers told |
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Property investors should not wait for signs that the market has reached its floor before making acquisitions, it has been argued.
Timothy Lambert, the sales and marketing manager at property investment consultancy Ducalian Timothy, commented that the sector is likely to see "at least" another quarter of downturn as mortgage defaults continue to rise.
However, he said, people should not wait to see signs that the worst has come and gone because this will emerge long after the event.
Instead, Mr Lambert remarked: "With low prices and interest rates at an all-time low, now is the best time to buy since the last property crash in the early 1990s."
Those keen on investing may wish to take legal advice before doing so.
Recent indicators have shown that house prices are continuing to fall, with February bringing a 2.3 per cent drop according to Halifax, while Nationwide's survey for the month showed a 1.8 per cent dip.
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