'Invest in property over next 12 months' - buy to let mortgages

27 April 2009

Those looking to invest in property - such as holders of buy to let mortgages - could do well to purchase a home in the next 12 months, it has been suggested.

Simon Preston, the chairman of iammoving.com, noted that entering the market at the present time could lead to buyers making "reasonable" capital gains on their investment.

However, he added that if people wait longer than a year, house values may start climbing back up.

"We are in the zone of affordability. I'm not expecting housing prices in real terms to go much cheaper," Mr Preston remarked.

He went on to state that the cost of borrowing money has reached an "all-time low", explaining that this makes mortgages cheaper and should lead to a rise in sales.

Mr Preston's comments came following figures from Halifax that revealed housing is at its most affordable level for around seven years.

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