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19/05/2009
Homebuyers told not to think like investors |
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Those looking to buy a home to live in would be wise not to think like investors, it has been suggested.
Chairman of online change of address service iammoving.com Simon Preston commented that for investors, the calculation of whether they should buy now is favourable.
He stated: "I would say that it is quite a good time to buy property because we have a shortage of property in the UK, prices have softened and therefore there is likely to be a reasonable rate of return."
However, Mr Preston said, for those whose main purchase is their primary place of residence it may still be "high-risk" to take the investors perspective that the value of a property could be much higher in three to five years.
Those looking to make property purchases in London or elsewhere may wish to consult a solicitor over the various legal aspects of such a transaction.
New data has shown that housing transactions are on the rise.
Figures produced this month by the National Association of Estate Agents showed that the average agent sold 9.59 properties in April this year, the highest number since October 2007.
Written by Anthony Dyson
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