Investors & homebuyers should think differently

by Rachel Crook

The current state of the property market means that those buying purely for investment and people seeking a home purchase should think differently, it has been advised.

Chairman of online change of address service Simon Preston said that there is a possibility that a home bought now could see substantial capital growth in the next three to five years.

Commenting on how investors may respond to this prospect, 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, he added, for those whose acquisition would be their main residence it would be more of a "high-risk" approach to anticipate such growth.

Housing transactions are on the increase, according to the latest data from the National Association of Estate Agents.

These revealed average sales per agent of 9.59, the highest figure since October 2007.

  • Property News from Lawpack: buying or selling your own house? Straight-forward advice on DIY house buying.

Published on: May 19, 2009

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