Property investors should look to buy now and not wait for data to emerge revealing that the market is bottoming out, it has been suggested.
Timothy Lambert, the sales and marketing manager at property investment consultancy Ducalian Timothy, advised that the current market is likely to go on falling for "at least" the next quarter and will not see an upturn until the number of mortgage defaults starts to fall.
He 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 to invest in property may wish to take up legal advice on the business of buying and selling.
Recent indicators about the property scene have shown that house prices are still falling.
Halifax figures revealed a 2.3 per cent drop in February, while Nationwide recorded a 1.8 per cent fall.
Published on: March 10, 2009