Selling property 'is still about location'

Posted: 28 Jul 2009 08:29:22 GMT

Despite the turbulent economy and changing fortunes of the housing market, selling property at a good price is still largely based on location, it has been claimed.

The Times reports that Douglas McWilliams, chief executive of the Centre for Economics and Business Research (cebr), recommends historic cities including Cambridge as areas where selling property at a profit is likely to remain possible for the long term.

He adds that, for buyers, "now is a good time to take advantage of comparatively low prices in places where property values will increase due to high demand".

For investors in Newcastle, Belfast and Cardiff - where large numbers of people are employed by the state - now could be the time to think about selling property.

Mr McWilliams explains that cutbacks in public spending could lead to reduced demand for homes in these places in the coming months.

In a recent letter to the Times, Mr McWilliams revealed that cebr anticipates a saxophone-shaped economic cycle as the UK's gross domestic product recovers from its low point and then begins to level off.

© Houseladder Ltd