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22/04/2009
Housing affordability 'at its best' says expert |
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Those keen to invest in property would be well advised to do so soon, it has been suggested.
Chairman of online change of address service iammoving.com Simon Preston commented that house prices are probably not likely to fall much further, stating: "I would think that if you want to buy residential property for reasonable capital gain, then [buying] something in the next 12 months makes sense."
He added that the practical reduction of the cost of money to "an all-time low" also made now a good time to buy.
Those keen to make property acquisitions in London or elsewhere may wish to engage the services of a solicitor to help the transaction move through smoothly.
New figures from Halifax have revealed that between the third quarter of 2007 and the first quarter of 2009 the average payments for a new borrower fell from 48 per cent of the typical income to 31 per cent.
In London the drop was larger still, from 56 per cent to 34 per cent.
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