Now is a good time to buy

Posted: 14 May 2008 11:22:30 GMT

Homebuyers have been advised that now is a good time to enter the market.

Homebuyers have been advised that now is a good time to enter the market.

It is because house prices are relatively low and buyers can land themselves a good long-term investment.

With house prices slipping, buyers can get their hands on a property relatively cheaply and then benefit when prices pick up again.

However, the Property Investment Network (PIN) said that buyers need to look to the long term and should not expect to make quick returns.

"It's a great time to buy because you can get a fantastic price," said founder Simon Zutshi.

"Because prices are going to be shaky for the next couple of years you are going to have to wait a long time for prices to come up; it's got to be a long-term investment.

"Property is a long-term investment; it's not a get rich scheme. You need to buy now at a great price but be prepared to hold it for a while," he added.

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