22
Sep
Investors advised to 'buy now'
People who can afford to do so should buy property now as it is one
of the best times for 20 or 30 years to do so, according to one
expert.
Andy Smith, managing director of property investment specialist
company 1st Asset, declared that investors with "cash in the bank
or who are looking for smaller loans" should invest in property in
the current climate.
His comments follow news that both the US and UK governments are
taking steps to ensure that their respective financial markets
stabilise and the flow of finance internationally improves after
last week's events.
Mr Smith added that it is probable in the future that "any bank in
the UK will be shored up by the government no matter what because
they don't want a situation like Lehman Brothers".
Meanwhile, according to Knight Frank, prices for property in prime
central London showed annual negative growth of -1.6 per cent in
August, but super-prime sector houses, worth £10 million or
more, increased by 2.9 per cent in August and 19 per cent
annually.
