22 Sep

Investors advised to 'buy now'

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.

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