Falling house prices are creating investment opportunities

Posted under Advice by Alan

The fall in the property prices in the UK has continued for more than a year now. This was revealed in the findings of the survey conducted by leading estate agency Chesterton.

Chesterton’s “Poll of Polls” pointed out that there was drop to £184,333 in the average residential price in England and Wales.

According to the firm, figures indicated that prices have been falling for 13 months consecutively and were going down across all regions. Bigger falls were being witnessed in London and the South West during this time.

Chesterton appointed the Centre for Economics and Business Research (CEBR) to conduct survey on its behalf.

According to CEBR chief executive Douglas Mc Williams, the cautious approach of the financial institutions towards lending has impacted all levels and falls in house prices were also taking pace at the top end of the housing market.

The chief executive of Chesterton, Robert Bartlett, informed that some highly placed property professionals are making the most of the drop in prices. He remarked that cash rich buyers had good opportunity to take full advantage of the situation. The firm reported that five deals of cash sales were made in Kensington, London last month.

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