I can’t say how many times various friends and investors have said they are not willing to invest yet believeing prices still have further to fall.
Well, do they have a point?
There is of course and argument for both sides.
These are my thoughts.
Any investor needs to ask themselves why they are looking to invest in property, now more than ever.
Do you want a quick turnaround or are you in it for the long term?
If you can buy a 2 bed flat in Central London for £200k now, where they were £300k last year, surely purchasing this is a win win situation?
If you are looking to build a portfolio with a good yield, buying a property that produces an 8% yield must be good business whatever the market is doing?
If I was after a property to add to a portfolio, bought it today at £200k producing an 8% yield and the price of the property fell another £50k before recovering, is it really the end of the world?
I remember when i started in this business, someone told me that there is never a bad time to buy property, they explained that if you are in it for the long term and only buy properties that fit into your strategy there is never a bad time to buy.
I agree with this, if you can get the property you want in the area you want at a price that is competitive then buy, it may not be there tomorrow.Back to news