Now is the time to invest in property
The time is here for investors to start looking seriously at buying property, reports Andrew Oulsnam, Managing Partner of Robert Oulsnam & Company. Prices in areas other than London may or may not fall further but only by a few percentage points. At some point during the next six months, the market will bottom out and it is looking interestingly likely that prices will rise in 2012 and 2013.
There is a better supply now than for some time of buy to let mortgages which has been particularly boosted by the return of Paragon the specialist buy to let lenders to the market. The deposit required and interest rates have also improved noticeably.
The two other key factors are rents and void periods. With demand outstripping supply for rented properties, rents are starting to increase and the latest surveys show void periods falling to below 3weeks a year and in many cases, void periods amount to only a few days.
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