'Ideal time' to expand property portfolios
Now could be an ideal time to expand property portfolios, buy-to-let investors have been told.
Property website BuyAssocation.co.uk said that pundits who say the UK market is un-investable are "inaccurate" and that the current downturn could in fact provide an ideal opportunity to prosper.
"Research at the beginning of the year suggested that a lot of buy-to-let investors were looking to extend their portfolios in the coming year," noted Paul Collins, property editor of BuyAssocation.
He attributed the optimism to the fact that investors - who traditionally take a longer-term perspective of the market - believe sellers are "under pressure at the moment" and so are more willing to compromise on price.
"If you are looking to invest, it may be a time to extend your portfolio," he concluded.
Nationwide and Halifax have both reported modest falls in property values over the past few months and the International Monetary Fund has said that years of speculative growth could result in a 30 per cent price correction.
Published 22nd April, 2008
© 2008 Estates IT Limited
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Now could be an ideal time to expand property portfolios, buy-to-let investors have been told.